I was an oboe major in college, but doubled on flute/pic for marching season. (did clarinet grade 4-7 but was horribly bored with it).
If you are over 14, I would say go with the upgrades.
for flute, an Armstrong 800b would be fine. It's in line, open holed, and has a B foot with sterling silver (you can also get an optional gold lip plate/cap). I worked as a funeral musician (playing flute) for 9 years- and even as an adult, it's perfect for me. It ran me around 1,000. I didn't need the white gold springs, engraved keys or fancy stuff that the professional model is. For high school and college bands- this is fine. The B foot is the big kicker. Irish music and church music are known for making players use the low range.
The Selmer oboe sounds like a party favor and anything beyond middle school- you should just put it on ebay. My oboe is top of the line, and I had it custom made by Foxx. Full system, granadilla wood, third octave key, low Bb left hand f- you name it, I have it. ran me about 5,000 back in 2009 and I've never met anyone else with a better instrument. Do NOT get a rosewood one unless you want to be a soloist. It sounds way different. Yeah- in the music world, you aren't getting into an orchestra without an upgrade. I must say though there's one thing with another poster that I disagree with. Colleges want oboists, but they only want you if you're majoring on it. Purely putting it in an application is going to get you no where unless you play in all of their groups. They will make you sign an agreement previous to entering that you will be in at least one ensemble year round for every term you attend if you write it down. Be warned.
Clarinet is a little different. Since there are so many pieces, I had music school friends who just bought a wooden barrel and bell to increase the tone quality, when they didn't want to fork out a huge about for a new instrument. It's an idea