Your gear is good for you level, but you'll replace it all as soon as you hit Outlands.
If you're going to waste the money for Mongoose, you should throw Crusader on your weapons instead -- a lot more oomph at your level.
In terms of spec, there's no reason for you to have 2H weapon spec - you'd be better off getting Bloodthirst as you're DWing 1H weapons currently. Fill out Flurry ASAP, and if you're questing a lot, Enrage may well be worth it.
If you're not trying to twink (i.e., stop leveling and max out your character for BGs), your best bet is to keep leveling and just look for quest / instance upgrades as you go.
Save your money for max level. It'll do a lot more good there.