This is a great essay, especially a great timing for me. As a 22 year old graduate student, I've only just saved enough money (from my assistantship) to consider spending on leisure items (a portable gas range was particularly hard to say no to at a garage sale).
I'm greatly comforted by his opinion on books though. I never sell my books (except really bad textbooks). So, I've already accumulated a somewhat large library. I was considering donating it to a library, but I'll think more about that now.
I'll argue that you'll get more utility out of a portable gas range than out of almost any book randomly pulled from your shelf, or any 10 books. I could go to my bookshelf right now and probably select 20 books that I have never more than glanced through and quite honestly will likely never read. Maybe someday I'll find a burning need to refer to a VAX architecture manual, but if I want to go camp out even once or twice a year, the portable range would be more useful.
Now, a portable gas range won't get you the massive HN/San Francisco cred you'll get from a house full of books, that's a given.
I think stuff to facilitate experiential travel is ok. You have to go camping with that range though.
Planning the trip, the trip, and reflecting on the trip provides far more happiness than the instant temporary gratification of a new thing. Not the greatest support for my argument, but there it is: http://www.cnn.com/2009/HEALTH/02/10/happiness.possessions/i...
I'm greatly comforted by his opinion on books though. I never sell my books (except really bad textbooks). So, I've already accumulated a somewhat large library. I was considering donating it to a library, but I'll think more about that now.