How do you guys have time to play all these games? I have a job and university and girlfriend to do. I wouldn't be able to afford all these either.
Time to play them all? No way. But why should that stop me from collecting?
My guess is that most people with big lists are in the same situation: more money than time, but a desire to collect (usually with the intent to play "eventually").
My main hobbies are running, basketball, and video games. Sports have essentially zero cost for me (other than replacing shoes every couple of years) so my entertainment budget is basically dedicated to video games. The only consoles I own are Wii, 3DS, and PSP. Wii doesn't get any new games; PSP only gets attention when PSN sales are appealing; so 3DS gets games almost by default.
Any game I pay more than $10 or $15 for has either been played already or will be played in the near future. If the price is in that $10-15 range, then I don't mind splurging once every week or two for gaming treat even if I have no intent to play right away. (I have no plans to buy a new gaming console - either handheld or portable - for years so don't mind having a backlog of games available.)
Just for fun, I tagged my list to show which games haven't been played more than an hour so far. Outside of getting 3 big retail releases close together - 2 at no cost by trading games I had finished playing - it really doesn't look that bad.