I started playing about 10 years ago on an Ibanez RX170 and a 15 watt Crate amp with an 8" driver. I stopped playing a few years ago and have recently decided to try to pick it back up. I think I'm ready for an upgrade though, but I'm not sure what would benefit me most: amp or guitar?

The amp in question is a blemished Peavey ValveKing 112 in otherwise perfect condition aside from some scratches along the bottom of the rear which I found locally for $165, an awesome deal if you ask me.

I haven't settled on a guitar yet but one that I've started looking at is the Dean VX

It seems to have gotten great reviews as a second guitar which surprises me considering the low price tag.

Should I go for the Peavey amp and revitalize my old Ibanez with some new strings and pickups? Or should I keep my old Crate amp and look for a new guitar? I should note that I'm mainly interested in heavy rock/metal.
I would say the amp, really. It's much more vital to your tone, and it seems like a very good deal.
Exactly what I was thinking, just needed someone else to confirm for me. Thanks!