I read this post when it first went up and watched it with interest before posting. Firstly I have to say I am no SEO expert, I don't do it for a living nor do I want to but I am a website owner just like yourself. I have in the past also wasted loads of money using so called SEO experts with little or no results so decided to do it myself with the help of brought in services I either don't have the time for or expertise in plus reading all the great advice on here.
I did have a look at your site, and its OK. Its maybe not the best looking around and lacks authority to separate you from the 1000's of scam sites out there but this is the business you have chosen and you know the industry probably better than anyone here so you should be looking at yourself for the best advice on how to set yourself apart from these sites.
Personally I think you need to do 2 things,
Have a good hard look at your landing pages and do they scream that your products work with good calls to action. You may not be getting many visitors at the moment but the ones that do visit you need to convert. To make that happen your site needs to fill the users with confidence and be easy to use. I have not used this tool but you may want to give it a go. ClickTale, The leader in Heatmaps, Usability & Web Analytics
If it does as it says then you should be able to watch how users interact with your site and where you could improve to increase your sales. It should highlight where people are having problems and give you pointers on areas of your site that needs looking at. Conversion should be your main focus and not tweaking title tags etc.
I would also suggest you watch this video 38 proven conversion techniques you can put to use immediately - YouTube
This video was recorded back in 2009 but I am sure it will help you focus your thoughts. Its around an hour long so set some time apart to watch it and make notes. It talks a lot about converting users of your site to customers so its back to basics really but offers some great advice and talks about tools to help you.
If you need more content for your site but find it a nightmare writing like I do then hire someone who enjoys writing, I use the services of The Creative Writer who creates fantastic original text when ever I need it and also at a very reasonable price. She is English so her work may need tweaking I guess for use in other countries.
You will also want to build traffic and rise in your serps slowly, even if you have the best website in the world with fantastic on-site SEO and great conversion rates if few people know about it you wont get get the opportunity to convert them (stupid and obvious statement) So I would hire someone to just help build backlinks of quality. I can recommend the services of Joshz on this board or can be found at Atlanta SEO, Joomla Development - Web Design Firm - V2interactive I have used him and have been very pleased with the results. I am sure there are others here who can also help but I personally have not used them so cant recommend them. I also continue myself to build back links on top of Joshz's work but I am now a lot more selective on where I do them so don't just buy in these services and sit back, you need to keep busy as well, its your site so your investing this time in yourself.
Offsite work as everyone here will tell you is not quick, I normally wait a minimum of 6 weeks to see if the work done has had any effect. But in reality it can take much longer. Any money paid for back linking should be treated as a long term investment, you should see a slow but steady increase in SERPS and traffic but the more you spend in this area the more stable your position should be over time. Never go for 1,000 backlinks for 5 bucks, they will just damage your site.
Just my 2 cents worth, hope some of it might be of some help.
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Good SERPS is great, Traffic however is even better