I think you would be better off swapping cassettes. Your current 11-34T means that the jumps between gears are large. Changing to, say, an 11-27 or 11-25 would mean your jumps between gears are smaller, and you can more readily find a gear that's right for the given conditions on the flats and gentle ups and downs. You should be able to go to a narrow-range cassette without changing the derailleur or chain (there will be more chain than necessary but the long derailleur cage can take up the slack). You could swap the derailleur to something intended for the narrower range and get a quicker shift if you want to. Swapping chainrings is a more expensive proposition and still leaves you with huge jumps between gears.
Regarding the high end, it used to be standard to have a 52-14 or 52-13. You've already got a higher gear than that with your 48-11. I have a 52-13 high gear on my road bike and only use it on the biggest downhills. In fact, I seldom crank that gear very much because I get more speed by dropping into a tuck and coasting. What cadence do you pedal at? Upping your cadence (to the 90-110 range) will let you use your gears more effectively.
Oil is good, grease is better.
2007 Peter Mooney w/S&S couplers/Terry Butterfly
1993 Bridgestone MB-3/Avocet O2 Air 40W
1980 Columbus Frame with 1970 Campy parts
1954 Raleigh 3-speed/Brooks B72