My only misgiving about my current rig is that it sucks about 100w at idle, mostly thanks to the 9600GT and the relative baloney that Intel's EIST is as compared to AMD's Cool'n'Quiet. However, being that it is the most capable, stable, and quietest main system I've ever owned, I don't feel too bad. Especially since I make liberal use of S3 sleep, as I no longer have a hard drive to spin up/down. If not for a bunch of Photoshop use, my rig would definitely be a bit of overkill, however, I do enjoy having a very responsive system.
E8400 @ 3.6GHz
Asus P5K-Deluxe
8GB Corasir DDR2-800
Samsung 64GB SLC SSD
ECS 9600GT
LG Blu-Ray/HD-DVD combo drive
On the other hand, thanks to edwood, I have a Pentium-M based desktop system that takes only about 20W idle, and 40W full load, thanks to an efficient SFX power supply, and liberal undervolting. It is perfectly suited to web browsing and downloading, though I wish programs would load remotely near as quickly as on my main system (I guess a 4200rpm laptop drive has nothin' on a good SSD
).
I do agree with the general thesis, that most people are buying more computer than they need these days. With XP, I'd say most folks would be fine with a good single-core processor, and 1GB Ram. However, with Vista, a dual-core and 2GB ram are mandatory for a good experience, as is a decent GFX system for HD playback. But do most people need a quad core, 4+GB ram, etc....hardly!
But when you do need such things for the right application, be it gaming, graphics, design, video/audio editing, etc; you really need them. Why should the same task take 30 minutes, when it could take only five, after a $20 RAM upgrade?