This has been such an interesting discussion! I'm glad you've found your way to a happy place with your wardrobe, JenniNZ -- both in terms of numbers and in terms of size.
I agree with others that it might be worth letting your numbers creep up a bit and see if it still feels manageable. I'm with you on not liking a strict one-in-one-out (partly because I tend to try to "game the system" by holding on to things that aren't really working so that I'll have something to get rid of if I want something new!).
I also wonder if it would be worth pondering a bit the psychology behind your purchases last year. Were you feeling a need for novelty? Enjoying the process/ritual of shopping? Etc. No wrong answers and no shame attached (a tough task for the likes of us, I know) -- just interesting data for awareness. But, as you say you felt that many of the items represented a real need...so maybe psychology wasn't really at play. I look forward to seeing how things develop this year!