"1. Stick to a one in, one out protocol."
I've been doing this in a more loosey goosey method, not keeping track of numbers but using my drawer space and my number of hangers to track this. Whenever I bring something new home I try to think 'is there anything in this category that I don't need anymore' and see if there's anything I can cull. I don't have something 100% of the time but its becoming a habit, which makes me happy.
"2. Track my spending and adhere to a monthly budget."
I've been tracking it, which I wasn't doing before. So far, I've been over budget each month, though. Doh! It's useful information, though - means I was underestimating what my budget needed to be. Fortunately, I've got a bit of flexibility with it right now.
"3. Further develop my specialty capsules."
This I've done - I now have a business travel / conference capsule although I haven't had a chance to try it out yet, and most of a dressy occasions capsule.
"4. Focus my acquisitions on the high wear items."
I *think* I've gotten better about this - but I don't have any specific data, just intuition.
"5. Shift toward a more rock and roll, Americana vibe and away from modern classic."
I've bought a few things in this vein and have tried to keep it in mind when looking for new items. Could do more, but it conflicts with the whole budget thing!