Somewhere between 20 and 25 (excluding luggage). I love them all, and don't get to carry any of them often enough.
Not much in the "status" department, though: one MJ Adina in hand, and a Mulberry Phoebe on the way. Fortunately not too many of the really spendy bags appeal to me all that much, and I get to spend my bag money on a greater variety of mid-level pieces.
And darn if I'm still not eyeballing a few more! Michael Kors Concrete Jungle series and the J Crew leather bags someone posted pics of on this forum not too long ago. Don't know if its a good thing or a bad thing I'm currently BROKE (post-Phoebe recovery).