I definitely enjoy both. Like some others, I don't worry so much about the total balance with my primary carrier, as long as it doesn't get too low, but I do become obsessed with status miles. I go out of my way to earn every extra 500 miles I can.
I definitely believe that the value of miles will only continue to decline, so I'm not afraid to put them to good use. I like to use them for family, and although I try not to waste miles on domestic runs that would be relatively inexpensive, I have done so.
My wife stays at home with our children the 35 to 40 weeks a year that I travel (usually in F/C thanks to CO's wonderful upgrade policy), so I take her away once or twice a year (w/o children), and definitely fly her in F/C even if I have to EasyPass it (burn extra miles for seats when regular award seats aren't available).
I'm definitely addictive, and competitive, but isn't earning free stuff what it's all about.