Everyone has their own balance. I sold my car 4 years ago (biking feels better), I never bought a TV, etc...
On the other hand, I like inviting people over for drinks, potlucks, etc... So, owning decent cookware and some living room furniture adds a lot to my life. The important thing seems to be to step outside automatic assumptions and actually figure what makes you happier (and what drains your energy).
> owning decent cookware and some living room furniture adds a lot to my life
Yes. The debate between "having things" and "not having things" seems wrong-headed and the OP sounds a bit like a thing-vegan. "I gave up things and now I'm sooo much healthier".
Things are tools. You should own things in order to do something with them, not because merely having them makes you happy (or because not having them makes you look cool (you think)).
Also, you find that good tools are often old tools, because you know them well; since you know their flaws they slow you much less than having to learn the workings of a shiny new version. (Joel Spolsky talks about this somewhere when he says he's still using Corel Draw).
My motorbike is 14 years old. I'd find it hard to live without a motorbike, but I certainly don't need to buy a new one when the current one is still running.
On the other hand, I like inviting people over for drinks, potlucks, etc... So, owning decent cookware and some living room furniture adds a lot to my life. The important thing seems to be to step outside automatic assumptions and actually figure what makes you happier (and what drains your energy).