Hi there! Welcome to K9Academy.
We'll I'm not sure about wet food clogging arteries (well maybe if they eat too much and don't get exercise...but thats with any food), but wet food for small dogs usually ends up in increased plaque/tartar buildup because its all just soft. Dry food will keep your dog's teeth healthier (of course that won't subsitute for brushing though
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As for foods.... I know what food you are talking about, I've seen it once before. From the looks of it members from other forums aren't too fond of it... But the decision is ultimately up to you, just make sure that the first two ingredient start with some sort of protein source (i.e. meats) and that you don't see too much corn stuff in there.
It'll usually be better to buy food that cost a bit more because if its good quality the dog will eat less of it whereas if you feed them really cheap, corn filled food they will eat more to compensate for the lack of nutrition....which means you'll end up buying more food more often...not to mention doggy poo tends to get bigger.lol.
I think you might benefit from a visit to Whole-dog-journal.com, I think they have lists of foods they believe are best for dogs, reviews of sorts... and lots of people I know trust it.