I try to pace myself, both for my wallet and marital bliss. I usually try to pick up one big thing a year (bow, gun, etc.), often for Christmas/Birthday, and then I am on the lookout for a few smaller things throughout the year when I see a deal and the wife isn't looking.
I also think some people here are focusing on quality and not just quantity. Even though I just bought an ASAT 3-D Suit, I really haven't bought any camo the last 3 hunting seasons, and I intend to use this suit over various layers throughout the year. Same thing with my X-Scent socks, they cost 12 bucks, but I bought one pair and now my feet don't scare off deer for miles.
But I hear what you are saying, my little brother has a real gear addiction, he buys stuff that he never uses and has the best in every category of gear (hunting, sports, vehicle), and it pisses me off. Not always b/c I am jealous, but b/c he is wasting his money, and not paying off debt, and saving is a word I don't think he could define.
Buying gadgets and gear is something I think comes naturally to most guys, so if you can afford it and are not mortgaging your future to buy it, go for it.