I'm starting to rip all my DVDs to a portable hard drive with the eventual aim of selling off my entire DVD collection. I smile to myself when I think of the CD collections of some people older than me have (MP3 players started to become affordable in my mid-teens). Now I have a sizable collection of music, but it's simply rearranged bits on a hard disc rather than a ton of CDs. No clutter.
I'm toying with the idea of selling of my large book collection and getting an iPad, but books have a high sentimental value for me plus I value the notes I've scribbled in the margins. Even the idea of having a portable hard drive will go away soon with cloud computing and the ever expanding services like Spotify and Netflix. It's amazing the amount of media you can accumulate without ever having to really "see" it (DVD cases etc).
When I started using Dropbox, I uploaded some media files onto my account and realized that even for the most obscure items, someone out there has already done so before me. As a result, backing up those files was merely an exercise of data deduplication in most cases.
Now I stream Pandora to my phone. I think I have 4 CDs ripped on my laptop.
Funny how times can change...