I used to be a MAJOR gear hoarder. I think its natural for a new hobbyist (like me, only in this for 3 years or so) to go through a phase of G.A.S. (gear acquisition syndrome).
Now, I am content to have a relatively minimal setup. I did not go overboard on synths, but I do have 1 of every instrument that I wish to record directly. I guess I strive to have a balanced mix of "real" instruments vs. sampled/synthetic tones, it just sounds better to me as such.
Right now I have:
(1)Ibanez RG-2550EX 6-string electric guitar ; Line 6 Flex Tone II modeling amplifier
(2) Ibanez 4 string electric bass (can't rmember the model, but its a really nice one) ; Crate BT-50 bass amplifier
(3) Access Virus KC
(4) Mackie Onyx Satellite
(5) Behringer "Truth" 2031A monitors (saving for Mackies or Genelecs now...)
(6) A few different microphones
(7) M-Audio Trigger Finger (there's no way in hell I'm buying a full drum kit!)
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Sequencer Software: Mackie Tracktion 2 (easy and effective to use)
I don't like getting caught up in too much technology, I want to record, not figure out VSTs for the rest of my life. Last year I sold my Motif ES Rack as I realized I didn't use it for a 10th of its capabilities. I know now that I can find any sound I need from a workstation/ROMpler synth in good VSTs.
Software instruments I use the most are:
(1) Albino III (2) Wusikstation 4.xx (3) Stylus RMX (4) Atmosphere (5) Trilogy (6) Battery 3 (7) FM7 (

AbSynth 2 (9) Pro-53
If I can't get the sounds I want from this setup of hardware/software then I must be a fucking idiot.
Simplify your rig and make more music!