1) Desktop Computer - LOSE IT

Get a laptop.
2) High-speed Internet @ Home - KEEP IT

3) Cable TV - DEPENDS

For sports, keep it. Otherwise get NetFlix, Hulu Plus, ect..
4) Point-And-Shoot Camera - LOSE IT

It takes better photos than a smartphone, but it may not always be with you. A smartphone will.
5) Camcorder - LOSE IT

Smartphones can capture video and new digital S.L.R. cameras can record HD video.
6) USB Thumb Drive - LOSE IT

File sharing does not require hardware anymore. In almost any case you can think of, you can move files around digitally via the Internet.
7) Digital Music Player - LOSE IT

Smartphones have music players now.
8) Alarm Clock - KEEP IT

9) GPS Unit - LOSE IT

Smartphones can do the same thing.
10) BOOKS - KEEP IT

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