Wherever there's room, cupboards, under the bed etc

You can "backlog" far beyond what you can ever possibly catch up to, and at 135+ Steam titles, 4 Impulse, 1 D2D, 20-ish GOG's, I feel I have definitely passed that point. So, unless something is a blockbuster deal, like many of Steam's deals this weekend, I don't buy any more games. I am just now playing HL2 finally!
As an avid book collector, I definitely feel you cna have too many books as well. My personal book-buying philosophy is that unless I will wnat to read a book at least 2-3 times, I will not buy it. I have been lured into buying cheap books that do not meet that criteria, and I always regret it, since I am an anti-packrat.

I do feel I have too many (about 25+ boxed games, 40+ GOG games), but I don't think it's a bad thing to have them all.
I just can't see myself ever playing them all, since I buy new games every few weeks...
Mind you, I also have a killer DVD habit (rentals mostly, but I get through quite a few), and I have some boxed sets to finish, as well as new TV series that I follow through alternative means if you know what I mean. It's a shame House is on Sky and "V" and Heroes are only available in the US, that's all I'm saying.
ahem.
Er... but yes, you can have too many games, but it's not like it's the end of the world, it just means that some games go to the bottom of the pile. Some might say it's wasted money, but I kind of view it like storage... I might have a time in my life where I have endless time and no money, and they'll be like acorns stored for the winter.

Steam and a terabyte hard drive have hidden from me the fact that I have way too many PC games. I really have to stop. It's completely out of control. I also like buying Blu-Rays, but I really do try to limit those to movies I think I'm going to really like or movies I know that I want to watch multiple times. And TV shows, I just kind of buy without regard if I think I'll like them at all.... gah! This thread has inspired me to try and stop.

It's fun to have a complete game collection to show off. : )

Rampant materialism is generally a sign of a void in one's life that is being thus filled. Once I figured that out, I stopped buying DVD's/TV shows entirely, and have reduced my book buying to maybe 4-5 a year at most.

You left out what you replaced your void-filler with....

More 1 terabye hard drives. And games to fill them with. : )

Counting all xbox 360 disc games, xbla games, original xbox games, pc dd games and regular pc disc games I have about 80 games. That's the most I have ever had in my collection at one time, and I have barely finished any of them.
I have enough games so that I can play and beat six games a month for a whole year and not need to buy another game. I am never gonna match that pace, so in that sense I feel like I have way too many games.
On the other hand, most of the games I bought have been ridiculously cheap, so even if I don't play them all the way through I still don't feel like I've wasted my money.

I have to have that many games b/c I need to melt the discs down to my perfect woman.

I usually tend not to impulsively buy large amounts of video games at one time. For games I know will have DLC out, I wait the year and a half it usually takes for them to release a GOTY edition (did that with Fallout 3 and Oblivion).
Otherwise, it's usually a planned thing, where I do some research of the game in question, and pick it up next time I visit the store.
I don't think it's a bad thing to have lots of games... some people collect tons of book and movies they never get around to read / watching so I don't see anything wrong with lots of video games.

I impulse buy a lot but I wouldn't change that as I wouldn't have found some real game gems if I didn't. Yes I have far more games that I will ever sit down and finish but then I don't consider myself a hardcore gamer and I like to have a wide choice.

To answer your question. I would say it more about having a life of balance and purpose than too much of this or that. Games are nothing more than a distraction and are forgotten about when the real things of importance present themselves in our life.

I try to buy all the new games with great reviews and oldies that i never bought, but certainly i don't have time to finish or even try them all. I'm always waiting for the holidays to give them a try... But of course, each year the pile of untouched games grows higher and higher.

There's always a limit on how much of something one can possibly have but like most things it's subjective. I know some people who think any more than 10 games for a particular system is too many. Personally, I dont buy a game unless I know I will finish it (at least the single player campaign/story) unless the game turns out to be really, really awful. I still end up with a big collection but at least I dont feel guilty about not playing a game I paid for.