I think you should play the open tournaments, enjoy the experience ( I got to play against some UGA players, and guys that were training at Bolleteri's back in the day) but also keep playing some 4.5 tourneys and start winning them. That way the " I have nothing to lose attitude" you have in the opens gets some balance with playing under pressure against people you should beat or can beat if you play at your best. When you dominate the 4.5's then play only open events. What you really need is some guys to consistently drill and practice with who are better than you to help you improve.
From the results of a guy (5.0 to 5.5 range) I know that is currently playing some Futures qualifying tourneys, I would concentrate on getting yourself to the point where you are competitve with the better players in the opens before pursuing the ATP point.