I recently bought an Ethernet shield for my project.
Which one? There are several on the market now, and they're not 100% compatible with one another.
One thing that's definitely missing from your description is the reset line. Based on problems that people have been having with the Wiznet chips, that should be connected to a digital pin, and toggled in your own code, instead of being connected to the Arduino's reset pin. THis will allow you to write code that resets the Ethernet interface when there are problems, and keep on running, instead of requiring a complete reset of the system (which can be a huge hassle when the Arduino is installed many miles from your PC