I've drastically downsized my wardrobe a few months back and started to feel liberated by 'less is more' mantra. I've started to put more thought into wearing and styling what I already had, and made conscious decision not to by anything other than stuff that looks and feels perfect. Opening my wardrobe and actually seeing all my stuff neatly organized and easy to go through is such a time-saver if nothing else.
Then, as luck would have it, I bumped into YLF, and now there's even more awareness of what really is worth my money. I love the feeling of knowing what I want and what I don't want, as opposed to the pure dread of feeling lost in the stores. There's still a long styling road ahead of me, but I'm getting there.