I'll get them all, sooner or later ... I think the Mac mini makes a nice media-center/set-top-box like computer: hook it up to stereo and TV, get a bluetooth remote/mouse/trackball and you're set. I'll surely upgrade to iLife '05, nice improvements and features: iPhoto is now powerful enough for me to not need other apps to organise and "enhance" my photo's, and the note feature of Garageband is awesome! I was already thinking about getting Keynote and held out up to now to see whether 2.0 would come out. I'm very pleased with the total iWorks package and the integration with iLife. I'll also probably get an iPod shuffle as a gift for my wife and a silver iPod mini for myself ... at a suitable occasion ...
Hence my vote for "all"! With edu-discount-prices etc. it's quite cheap all in all.