If you're thinking we should be challenging for promotion in our first season, then I'd tend to agree - we probably need to spend more.
However, as consolidation is the name of the game (IMHO), I actually think last season's first 11 is good enough to survive in the championship. Just look at some of the dirge in the lower placed championship teams' squads. What we don't have is depth - we were lucky there were no major injuries to key players last season - we need cover and CW seems to be doing that with the acquisitions made thus far.
Moore, O'connell, Freeman, Lafferty, Fleck, Coutts, Duffy (as an impact player unless he gets fitter), Sharp, Bash and Carruthers could get into most championship teams. Evans' form is an unknown, but if he can rekindle it then he's definitely good enough for the championship. The new lads we would need to see more of before judging them, but if CW thinks they're good enough then I'm happy to see.
I agree we need some experience at the back, and I think CW has been on record to state he wants a couple of CBs, so one could assume one would bring some experience.