In this poignant article at Gameological, one writer has his Magic collection appraised to dispiriting result.
I'm honestly amazed that Magic is still as popular as it is. I would think that, after years and years and years of Wizards releasing new sets and new rules, basically saying "Oh you have a powerful deck you built two years ago? That's cute. Not legal anymore. Buy moar Majik!" people would get fed up and quit.
Yet I just found out that there's still a thriving MtG scene. Maybe it's not as popular as it was at it's peak, but it's still going strong. I mean, it's a fun game, but after spending all that money on cards that just get outmoded within a few years I don't think I'd be willing to continue playing.