(A true tale inspired by those threads I now see, where many ponder camera upgrades only a few months after getting their current gear).
Wish this was some fictional story, but it is not.
Let me share my thrilling horror story, of how I went digital and Canon in 2003 (Ex Nikon/Ilford User, dual F90x cameras), purchasing a single 10D with a Tammy 19-35 (which was exactly what I wanted for urban photography, and the graphic reporting that I had been used to).
Then I became aware of a New York gang (The BH Boys, or the B&H Gang, with membership benefits such as overnight shipping and friendly exchange policies), and decided to become affiliated.
Within months (6?) I had added a 20D, so I went through the following migrations:
Started 10D
(added 20D), so had two bodies.
(Added Sigma Glass) Now I had two bodies, 50-500.
(Sold 10D and got 30D) Now I had 20D and 30D with Sigma 24-70 2.8 and a 70-200 2.8 and the Bigma.
Business was better, so with the motivation to push for higher performance, I decided to pledge my allegiance to BH.
In 2004-2005, I decided to go from Siggy 24-70 to 24-105L, and Siggy 70-200 to 70-200ISL, then sold bigma and got two TCs. (Oh, threw in a 10-22 EX)
Then I sold the 20D, and got a 1DMk2.
Now I had the 30D and a Mk2. The Mk2 broke down, and I sold the 30D. Bought a 40D at Bestbuy before travelling to a conference as photographer, and then sent it to a friend, in exchange for a 30D. By the time the 1DMk2 came back, I had a 1DMkIII as well.
Now it was 2006, and I had 1D2 and 1D3, 4 or 5 L lenses, (17-40, 24-70,70-200, 100-400, etc). I had gone in three years, from $600 of equipment to well over $7500 spent.
Great story so far, right?
I got separated in early 2008, lost a small part of my biz to the ex, and sold the other (1D3, L lenses) throughout the next year, just to pay off bills.
Filled for Bankruptcy, not only the house had been eaten by the economy, but my CCard bills were pretty severe. (I like to think of that period, as the Canon Blues).
Epilogue:
I got so excited about the gear and as to what it could do, that I failed to realize that my local city and county meetings did not NEED L glass for me to survive. That Dual wielding of 1D Cameras made me look as professional as a Superbowl Stringer, but that the smarter ones in that room (and taking in more happiness home) were the Rebel users, or the ocassional 40D man.
Was it worth it? I am not sure how to answer that. Maybe a few sub-questions:
Was it Fun? He-- yeah.
Was it better for the business? Well, the IQ went through the roof, but the books would not balance in a hundred years.
So the "Was it worth it" question really never had a definite answer. I can tell you this though:
No doubt there are great pieces of equipment available out there, and that if anyone here can afford to purchase one of each, today, that there is a use and an incredible purpose to all of them. However, in my own life, I became much more obsessed with "Image Quality" without the realization that my pics were being printed in cheap grayscale paper, printed hastily close to midnight. I got ahead of the "Need" curve, into the "Better Gear" territory. So instead of letting the tools improve my business, I used my business to improve the tools.
And I sank. Like a rock.
The point is not pity, or to make some bleak statement. But rather a tiny hope that if anyone out there is somewhat feeling tempted by the same things, that they may be able to learn from my mistakes. Or at least, being able to determine where things went wrong.
Life is better know. I have little but it is mine, and the joy of photography is alive as ever.
Looking back, I am thinking my signature should have always had a link to my favorite image, the one I took that made me the most proud. What I used to produce such image, despite being fun to discuss and learn from, should really take a 'second row seat' to the magic and effect of the image itself. 
Just 10-15 days ago, I purchased my first DSLR in cash, since late 2008. It is a 40D, with a kit lens and my favorite cheap-o, the 50mm 1.8.
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