KittenKiya - I'm no expert but I think they sell supliments you can add to your cats food that has the extra vitamins and such in it that will help with coat sheen and sheding and the like. I think I've seen some of the breeders mention it before. I actually want to look into that myself, because our newest cat sheds like CRAZY and I thought it would get better when we put her on the same food as Dante, but it hasn't. I'm not sure if it would be cheaper than your new food or not, but it might be worth checking into! I'm sure someone here could recommend something!
I feed mine 24/7 too... the bowl is always full and they can eat whatever whenever they want. So far that has worked, but if one of them starts looking chubby that will have to stop. (which is why I switched to the indoor formula, because it's supposed to help with weight control.) They also only get dry food and water. Dante has never had "people food" and I'm trying to keep it that way! Lily does beg sometimes because her previous owner fed her, but eventually she'll learn that she wont get it at our house.
...I have to mention that although my spoiled rotten cats only get dry food and water (which doesn't sound too "spoiled") - they do have one of those fancy water fountain drinking dishes that filters the water and keeps it cold and constantly moving.... so don't worry, they're still spoiled rotten!