Re: Every been tempted to just settle for one high-end guitar?
A good player can cover a lot of territory one a single guitar. They might use more than one, but their skill levels will allow them to do a lot more with one instrument.
But everyone should simply celebrate that most of us have the options and the opportunities. There are some people whose lives don't allow them such options.
I agree with Crusty on this one. I think the main source of versatility lies with the player and nowhere near as much with the wood or pickups as we might think. I always think of the example of Dave Gilmour's classic solo on Another Brick In The Wall. It sounds for all the world to me like the classic Gilmour/Strat combination, but is of course a Les Paul, albeit with P90s. Gilmour's voice as an artist is willing that Les Paul to take on very Strat like characteristics, which Les Pauls rarely do. A very good player can will an instrument to do his bidding, where a lesser player who has not developed an individual voice of their own will be a slave to the inherent tonal characteristics of the instrument. Jeff Beck is another who can will instruments to conform to his voice, making Strats resonate with the fatness you would normally associate with humbuckers, or in his early years, make Les Pauls quack with a hollowness normally associated with Fenders. While a specific type of instrument can enhance a player's signature voice, a good enough player will be able to summon their voice from many different instruments, or derive great tonal variation from one instrument.
On another point, regarding the difference between premium and budget instruments, I would like to add that from my perspective as a touring professional, the issue of road worthiness becomes a major consideration. My old Strat takes about 60 flights per year, and will travel with me in and out of the tropics and temperate zones alike, all year round. It takes a solid instrument to withstand that kind of workload and variety of conditions. It would be a rare $500 guitar that could take that without collapsing under the conditions, showing its flaws and shortfalls when you least need to see them. Green regrowth forest wood and cheap hardware may be fine for the lounge room or occasional jam, but testing conditions will expose its flaws. This cannot be discounted as a consideration as to why so many professional players choose premium quality instruments, coupled with the fact that they are a tax deduction for our business, and are paid for by a few gigs, whilst offering years of service in return. These are not vagaries or nebulous definitions, but experiential knowledge.
As for the one guitar thing, I can only restate my own position. While my career's playing styles have stopped short of Jazz and Metal at the extremes, I have been able to make a living playing a broad range of styles in between these genre bookends with one excellent guitar.
Cheers.......................................... wahwah