Nice article. Actually, I believe Warren Buffett drives a modest car and lives in the same modest house he has lived in for 40 or 50 years.
Do what makes you happy and don't worry about image. One interesting thing is that often people with all the latest gadgets actually have lower net worth than those without because of all the debt they used to buy them. The truly rich have learned the power of delayed gratification.
RE: Keeping up with the Joneses - the race to the bottom