Interesting that a number of serious pipe smokers consider pipes to be a poor investment. I will take that to heart. I mostly just don't want to lose a bunch of money on a hobby. A bit OT, but regarding high end gear, whether it be pipes or fly rods or skis, functionality should be a driving force in purchase decisions, unless you are just trying to be pretentious. I mean, I have used some friends' higher end fly rods and they are very impressive, but I can haul in 25 inch pigs just as easily with a Cabelas rod- and when I thrash it around in the bushes, maybe even break off an eyelet, I am not going to cry myself to sleep. What I really gravitate toward is value- something that is very well-made for the money, whether anyone else knows it or not.