I stopped reading music mags like Sound On Sound ages ago, and I make more music now than I did then (I used to spend more time reading about muic than actually doing it!).. its a while since but I used to think to myself "when I get that Compressor / EQ / Reverb / Keyboard (or whatever) I will be ok then" of course its a load of crap... I mean you do need the tools for the job, but reading the mags for me was like feeding a drug habbit, I used to spend so much money (though the bits of gear ended up sat there & ive slowly sold most of it off over the last few years, which has come in handy money wise) the local shop must have loved me....
The magazines can obviosly be good for things but personally, I try not to read them anymore.... some products really are inovative & sometimes you miss out on stuff (like I didnt find out about Ableton Live till it was on version 3) but I think most of the products for sale / being reviewed, are either just rehashes of what you already own, or you simply do not need, and for me getting a new piece of software / hardware means ive got to learn how to use it so that would take up time...
Dont get me wrong im a gear freak at heart (a super freak actually) but making music is more important to me, so im kinda like a drug adict stating away from the dealer
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(Just thought id add) I think its all about balance, I do still buy the odd thing now and then (usually plugins now & not very often) but It doesnt get in the way of me making music.. I suppose its a personal thing, some people might make more music the more gear they buy & the more options they have... its just for me it works the other way around...