hockman is right: audiophilia is a dangerous disease to contract.
However, I find that judicious choice of equipment yields great enjoyment with music, and I have LITERALLY been spending what some spend on a car payment on stereo equipment and music (and going without a car) for nearly a decade now and my life is richer for it. I find it makes even the worst privately recorded live gigs sound a little better and the best masterings and recordings sound fantastic. I don't listen to just the good sounding discs, I don't own "Jazz at the Pawnshop" in any form!
Hey, I've bought instruments too, so I'm attacking it from another angle as well.
I respect everyone's viewpoint here in this thread. I'm stuck with mine, happily.