This is something I've been wondering after looking at some of the huge collections here on DP. I have a relatively small collection (~800 games) but not because I'm a collector. It's because I usually don't sell or get rid of my games. I know (from experience) that I'll probably want to play it again at some point in the future so I hang on to them. After almost 30 years of playing video games, they just kind of add up.
Anyway, if there was a fire that destroyed your collection...would you feel devastated (years of work/fun turned to ash)...or would you feel somewhat relieved (sweet, cleansing fire)? I'm genuinely curious.
Personally, I'd be crushed...but in the end, I'd probably just keep the insurance money. I'd replace a few new consoles(360 and PS3), but I don't think I'd replace any of my classic stuff (2600, NES, SNES, Genesis, etc.).