I only own 1 wallet, For me it makes t easier not having to change the multiple id's buissness cards, membership cards and whatnot but its a medium sized burnt orange leather once by a brand called Nica that I purchased at Anthro last winter. I love it.
I only have one wallet for the same reason. I don't have the time or patience to mess with dragging all my cards etc from one wallet to another.
My current wallet is a black leather Fossil; not terribly expensive but I bought it because it had enough room for all my stuff without being too bulky.
I like having lots of bags, but wallets...not so much.