My basic goal is to collect every CHUG representation possible. This of course leads to some expensive buys but definitely worth it. I would like to think it's currently up to date. I also don't waste my time buying a new version of a character if I find the previous release a better option (Gen Jazz vs Potp Jazz).
Like UM, I also decided to collect as many of the Animated series as possible. While I don't have the exclusive White Ramjet activator, my collection is complete.
MP's are appealing but would absolutely destroy my budget. So to this end I only collect obscure characters as opposed to the main stream (Delta Magnus over Ultra Magnus). I will get an MP if its a favorite character though like Optimus & Hot Rod.
My G1 collection is almost complete, I only require a few more to finish my version. I do exclude some like AM Wheeljack if I already have their original release versions as I don't want double ups of the same bot. The real painful part of this vein of collecting is looking for the all parts. Some are ridiculously expensive but thankfully I have plenty of patience so I can hold off until the price is right. I will make a note that I only collect the Hasbro line of G1's as the Takara line would, like the MP's, destroy my wallet.
That's basically my goals/lines in a nutshell.
WANTED BOTS: G1: Horri-bull, Snarler, Mainframe, Chop Shop, Ransack CHUG: Spin Out, Cordon, Brotropolis Rescue MASTERPIECE: Acid Storm
ENERGON: Six Shot