Well, I cruised this thread, and much to my surprise & amazement, I didn't see one post suggesting that perhaps a change in focus might be helpful. By that, I mean, MYOG.
Now, here's a great (new to some) area in which to really focus on function, develop various craft skills, and save some money. Rather than take a pledge not to buy any more gear in 2012, I would take a pledge to learn how to sew, acquire an inexpensive sewing machine, and get down to it.
As for myself, after not buying any gear in 2011, but rather, building out an entire kit and getting to test it on a number of different occasions, I'm planning on replacing MYOG quilt, bag & tarp during 2012. The new down quilt will be around $125, pack should be around $10 (I'm going to re-use my straps - 1 yd of 1.9 is $8), and tarp maybe $30.
I'm less than 1 lb off a SUL baseweight - and this is for the Sierra, so it includes par/sub-32 gear, and sufficient rain gear (oversized tarp, skirt, etc). If I were to tray & assemble this from different mfgs, it could easily run over $1k.