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It's a great time to be honest, the sets I love have quality figures too.
Ultimately it depends on the set, but there are some general themes for me:
New star wars sets - generally for the minifigures (eg I already have two republic gunships and a sail barge)
The large scale models, sculptures, trains etc - for the build
There are other themes - Friends might be a good example - which I buy primarily for some of the interest parts / colours.
So I guess you could say I buy for the pure enjoyment of building the whole set.
In fact, in cases where the figures and accessories come in a separate bag (like haunted house and unexpected gathering), I haven't even opened the figure/accessory bag even though I've built the sets.
Having said that I enjoy collecting the minifigs and "free" polys.
I've narrowed my Stratford store AFOL day this weekend to one of two sets - Tower of Orthanc or Palace Cinema (UCS R2D2 eliminated due to Argos selling it, so banking on it being discounted at some point!)
Often before I collect the sets from any theme, I make a chart. On the X axis I list all the minifigures, and on the Y axis I list all the sets. I mark which figures come in which sets. And then I go through and tally what minifigures I will get from the sets I want the most. After that's done, the rest of my collection for that year will probably be whatever I consider the most efficient way to get the minifigures that I won't already have gotten from those sets.
As an example, my twin brother and I decided the sets we wanted the most from Ninjago in 2011 were the sets containing the four dragons, and after that whatever sets would get us the remaining minifigures. Thankfully, the sets containing the dragons already netted us 13 of the 20 characters that year. After that it was mostly just a matter of filling in the gaps.
In 2012, there were far more figs. My brother and I decided that we wanted all four sets including the Ninja's magical vehicles (including Zane's snowmobile in the Fangpyre Truck Ambush), the Destiny's Bounty, Epic Dragon Battle, and then whatever sets it took to fill in the gaps in our minifigure collection (except the Kendo ninja, which we didn't particularly care about). In the end, we didn't end up getting Destiny's Bounty or Ultra Sonic Raider (our younger brother got both of those, and as a result we have neither a Pythor minifigure nor a Slithraa minifigure), but we did get all the ZX and NRG Ninja, Samurai X, Lloyd Garmadon, Lord Garmadon, and four of the Serpentine generals.
It's basically a win-win situation. All the figs, all the sets and no duplicates for less than what I originally paid for. And with minifigures, regardless of theme, commanding a small premium at this time, why not sell your duplicate figures that don't make good armies and make some children/other collectors happy at the same time? :-) At least, that's all imho.
Two of the sets I would definitely buy if I could afford it are Hogwarts Castle and Diagon Alley because I could obtain a bunch of HP minifigures at once. Once upon a time I had a dream of collecting all of the HP minifigures, but I missed the HP boat and actually have sold some of the figures I did have in order to help pay bills.
I have wasted over £300 on little/cheap sale items and now I don't want them and its hard to sell them as I have opened all of them!!
It doesn't help that I have a long list of Lego direct models that I want including: #10234, #10225, #10226 and #10220!!
I try to buy sets where I like the builds more often than sets where I like the figs, but those are usually on the expensive side, like modulars (though I own not one, save for the mini!). Doling out the cash in a big lump sum is painful, which is why I turn to small licensed sets instead. It's a horrible cycle! Thank goodness for the Creator houses, it's a good balance for me.
My absolute favourite, no-regret buy, though, was Diagon Alley. Even though it cost a lot (and like five months worth of LEGO budget), it was really the best of both worlds for me - figs I love AND a great build.
Now we have Harry Potter sets on one table, all the Lego friends on another, creator houses in bookcases and winter village in another area. Super heroes sit unopened:-). So display space is what decides for us.:-))
I do buy modular creator sets but I try to get a least 5% discount on those sets before buying.
Prices heavily influence the sets I buy.
I bought #9499 just for Queen Amidala and broke my no-Star-Wars rule. Small Super Hero sets have snagged my dollars just for the minifigs. I like to build all the sets in a theme to display together, then put them away and build another theme.
Sometimes minifigs bug me when they are just expediently tossed in a set. Like Princess Leia in the Y-Wing, or Queen Amidala in the Gungan Bongo.