Photography is definitely my money pit. One thing leads to another to another to another. And, if you want that bigger, better lens, you need bigger, better legs. You need new filters. You need gear protection. Finally, all is set and working well, and BAM!!! out comes a new camera model.
Now, even though I lust after the new Nikon D4, I am hoping that the prices come down on the D3. I'm always a model behind for that very reason.
A few years ago, I bought a new computer. Admittedly, my software was mostly pirated stuff - CS4, for instance. Given my new computer, I wanted to start new. I spent my entire tax refund that year, and then some, on new and legal software. Adobe is not cheap. But, it feels good. I can get upgrades. I don't worry about the software police (if they indeed do exist), I'm good. But now, Lightroom is coming out with a new version, Lightroom 4. It's a pretty safe guess that it is going to be an expensive upgrade. Everything Adobe is.
You're right. It's a huge, and widening circle. It's my money pit. I love it.