I've been there for a while. The m3 made it hard to not care. I've had it for about 2.75yrs and as of a few months ago, I don't care anymore.
Yes, mods are a retarded waste of money. They didn't seem like it until I realized that I want other more expensive things in life. The car is just transportation. Sure i still love cars, but not more than the really important things in life.
I cannot wait to get an suv at lease-end in august. Then i will not have to deal with the ridiculousness that is having a dog, playing hockey, and trying to go skiing in a coupe BMW.
Once I get myself an American made suv, I will instantly feel like I'm helping this miserable economy, and at the same time making my life easier with carrying things and not stressing about things I cannot control (dings, steep driveways, etc.)