As a surveyor, I'm not a fan of the surveyor's vest -at least not for riding. They are heavy and don't breath well. They have lots of pockets, which is good for working but add bulk.http://www.safetyline.com/discontinuedvests.aspx
The prices here /\ are the best out there for non-ANSI compliant needs. Legislation passed (in my state) requires roadway-present workers to have, at minimum, Class II or better, dependant on task. Many states are moving toward this and putting a lot of good quality high-vis gear into the closeout bins. My employer requires me to wear a Class II, and my self-imposed family demands require me to wear a Class III (i.e. sleeves) when touring. The mesh jersey material is highly transparent to air movement.
Choosing a color for panniers will depend on the environs you're in. For most, the yellow will stand out nicely against the black asphalt or greens of nature. The red seems a bit muted to me. I went with yellow bags. My clothing is orange. When I first started riding again after a long hiatus, I wore what I had and swore at traffic. Now, with a high-vis upper, traffic seems to give wide berth. -The wife says it is because I look "special needs". I guess my 'special need' is to avoid being run over.
-I'd post a pic of my full setup, but will have to whittle a photo down to 250k.