During fall clean-up, I invariably have the same 'note to self' - top dress heavier next season! The few times I have actually laid out the recommended 3-4 inches after spring clean-up has resulted in much easier growing season maintenance and fall clean-up. Don't be stingy with the mulch!
I use a bulk composted mix - 14 yards delivered - from a local family owned supplier. They do their own composting on site, and I've been pleased with their product. The down side for me is deciding on a storage spot, as it takes me a couple months to get it all spread out. In my perfect world, I'd have some sort of a 3-sided enclosure tucked among mature firs on the far side of my driveway. Maybe a winter project...
I've never compared price/quality to bagged, but would be curious to find what those who go that route have to say.