I am "in-between"...
I keep stuff a long time, but I also change things when I see something interesting that I think I want.
My prior speakers I had for 20 years. (Infinity IIa)
My current amp I had since it came out (Forte' 4a)
My pre for about 6 years now. (Adcom 7??)
My Scd777ES for 3 years now.
(I am not very interested in SACDs. I bought ithe SCD777ES as a demo for $1,700 to play CDs. it sounds wayyyy better as a transport than the Rotel transport I had before.)
Got back into vinyl and bought 12,000 (cheap) LPs in the past two years!(already recycled over 2,000, but most of the rest a pretty good)
Two TTs and two Shure V15VxMR via the web last year...
My Audio Research Phono PH-2 for a few weeks now.
The PH-2 sounds to me like a very long term keeper.
Bought myself about 100 Blue Note jazz CDs for Christmas as I can't find very many Blue Note jazz LPs...
My current speakers are only temporary (Maggie IIb) and I am getting ready to invest in other speakers, probably 1.6 or 2.6 Maggies. (maybe... as I am satisfied with what I have... but I might or might not buy better speakers anyway...)
So audio is my hobby.. I spend most of my extra income on it one way or another. Equipment or music.
PS: my Sony VEGA 36XBR400 died TWO years ago... I refuse to replace it or get it fixed. (more time to listen to music!)