srm is right, kinks like those are pretty significant damage to the wire. Don't try to straighten it out, that weakens it further. Sailing like that WILL result in breakage. Likely a gust or wave will overload the wire, it will snap suddenly and the mast will come crashing down.
I know that rigging is the last thing you want to spend money on when you have so many other upgrades in mind, but standing rigging above all else is the last place you want to cut corners. Look at it this way, when the mast comes down, your trailer upgrades won't do much good with a broken mast, torn sail, broken crossbar or damaged hull... not to mention the possibility of physical injuries.
I can't quite tell the condition of the port bridle, but you should at the very least replace the one that's kinked.
Bridles cost $68.99 each, shrouds $72.99, forestay $94.99 (upper) and $82.99 (lower). Hulls, masts and crossbars cost $300+ each used, if you can find them.
Boat: a hole in the water that you throw money into
james, stepping the mast can be a bit tricky the first few times until you get the hang of it. I always have my crew hold the mast as high as they can as I get on the trampoline and grab it from them, and then they hop up and give me a hand with it. We walk the mast forward together, one person on each side so as to keep the mast stable side to side, and once it's all the way forward, I hop down and pin the forestay while he holds it. This two person method also makes it much easier to get around the diamond wires when the mast goes from waist level to about head level. Just be careful of your shrouds. Mine always seem to wind up getting stuck underneath the hulls as the mast comes up!