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I installed a Tandemkross Victory trigger in my MkIII...a very nice addition..highly recommend it.
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I just put mine in the other day but have not had a chance to shoot it yet. I have to agree that it is very, very nice.
As far as "mandatory" upgrades - hammer bushing. For my pistol, an extractor (I went with TK) and LCI delete were also must haves; especially given the relatively low price for getting the gun to run more reliably.
I'd suggest a sear from Volquartsen before looking to spend more money on buying new guts for the pistol. I don't think it's a must have, but again, given the relatively low price, it's a great improvement. While the gun was apart, I polished the some of the internals with a dremel and polishing wheel following
this video I found on YouTube. It made a huge difference.