I am now the proud owner of 3 bikes. A couple of years ago I would have told you you were nuts to even think about ONE bike
I just bought a pair of Raleigh "City Tourer" bikes from a co-worker. He and his wife just bought new bikes - Giant cruiser for her, Specialized hybrid (I think, haven't seen it but that's the description) for him - and decided the older bikes needed new homes. They are 5 and 6 speed respectively, with fenders, racks and lights. Nice basic bikes!
I am thinking that one of them can be a "house bike" for guests to use, or my housemate if she ever actually goes outside (I think she's turning into a bat) and the other one will become my backup commuter. I'm also considering buying an Xtracycle conversion kit so I will see whether one of the Raleighs would work well for that or if I should convert my Norco (or acquire another bike!! Whee!)
Now I have to figure out where to put them Parking one bike in the living room was OK, but I suspect 3 may become a bit of a sticking point. It's either clear ou the shed time, or go sweet talk the neighbour with the 3 car garage and 1 vehicle...
The Boy's parents have some older touring-style bikes in their garage too. I'll probably end up adding those to the fleet at some point!
Oh, and I'm signing up for a bike-maintenance class, otherwise this could get expensive!