My previous collecting focus was Boston Bruins: get everything, ever, and take every trade thrown my way for any Bruins cards. And that, my friend, was an exercise in foolishness.
I've gotten to the point where I realize that I'll never get every Neely card ever made, so I spread out and started collecting three other Bruins on a more limited scale, also started up an Alex Ovechkin PC to kind of bring some more color to the PC, and now I'm also doing a broad collection where I grab at least one auto and one game-used card of my favorite all time players, both Bruins and other players. It's allowed me to widen the focus, and not just try to collect everything of one player, and not worry that there are loads of cards out there that I'll never get my hands on.
For example, I've got all of Marchand and Lucic's true RC's, which was certainly a fun accomplishment, but with Seguin, I'm resigned to the fact that his Cup and Dominion RC's are just way out of my league, and that's OK. I ended up lucky enough to get his Ice and Crown Royale RC's, and most of the lower-mid-end stuff, and I'm proud to have gotten that far I guess, while not being disappointed that there are cards that I just won't own, can't, you know? I have three kids at home, and they're all collecting for fun now, each with favorite players, and it's more about US, than ME.
Neely is someone whose stuff I will always chase, and will pick up whatever I can within reason, Ovechkin is pretty much the result of landing a sweet 09-10 Neely/Ovechkin dual Honorable Numbers, and the 08-09 and 10-11 versions are in my sights for when I do end up with the funding, but again, I'm no longer hunting everything ever, and it's a lot easier than I expected to be OK with that.
I'm with a lot of other guys, other than my Neely PC, I've been trying to shy away from multi-player cards too, trading my PC players' duals for cards that just feature the one player unless they feature multiple guys from my PC.
It's so weird trying to outline what you collect though, as some cards just tend to stick with me, while others I actively try to move, and there's always some exception to every rule I try to put on my collecting, haha. Anyway, that's my deal, and it's very interesting listening to how other folks on the board approach this. I hope we get a lot more answers, it's very informative and fun to see everyone's take on collecting.
-Chris