New toys:

Sony MDR-7506 headphones on top of Canon MP600 printer/scanner...both of which are things I've been wanting for a while: I'm sick of using other printers/scanner in the house; having my own is so much more convenient; and it's about time I got a good pair of reference headphones.
New projects: I'm going through all my old guitar mags and scanning everything worth keeping: any lessons, features or song transcriptions that draw my interest. When I'm finished, I'll probably try to sell off the mags and seed the GAS fund a little bit (relates to new ambitions, below). Also, I've begun reconfiguring my room with plans to finally do the repainting, etc. that I've been wanting to do for months.
New ambitions: it's time to get serious about this recording stuff. I'm looking into buying a couple beginner-level recording books, and once the room is finished, I'm going to invest in a bunch of upgraded recording gear...a FireWire mixer, a large-diaphragm condensor mic, monitors, (eventually) a 2-channel outboard mic preamp and 2-channel compressor, and maybe even a bass guitar. Long-term GAS, stoked by Nate from cyberjammin: a Soldano Astroverb amp. That would be a mighty fine recording/practice amp, and they can be had used for $700-800. I wouldn't have imagined that one could have a Soldano for under a grand until Nate scored one and I looked into it a little bit.
