Essentially, I am very selective with the paper I purchase. I will never buy paper for a movie I didn't love. I mean, love. There are lots of movies I like, and usually the posters are crap anyway, but if it wasn't one of my top-five for the year or a beloved classic of mine I will never buy the poster.
For example, I took home posters for eight of the ten Best Picture nominees this year (Winter's Bone and The Kids are All Right being absent). Upon review, while they are undoubtedly good films and I did certainly enjoy them, only half of those movies I loved. Simply liking a movie isn't enough for me, with space and budget always in mind. Even if I kept all of my posters in tubes I don't have the space or passion for paper on movies I just like.
I also won't collect a poster if the artwork sucks. Which is common with contemporary movies.
As far as formats, I only collect (for now):
-1 Sheets
-Quads
-AU Inserts
I know some people hate inserts, but I find their size and displayability very appealing. Sure, they feel a little like novelties compared to their larger counter-parts, but they're also typically much cheaper and there are more intricate places they can be hung. Unless the movie is astronomically important to my collection, I will always entertain the notion of a Daybill, but I don't believe I would ever own a Daybill when a 1-Sheet is available.
I also won't collect paper with foreign text if an English-text version is available. I currently don't own any posters without English text, and I've only see a couple of international posters with unreadable text that I would consider buying. I always appreciate fine artwork, but my collection is not just artwork. It's a compilation of films I've made a connection with, and having text I can't read on the poster feels a little disconnected. I don't know if this will change.
I also had a brief stint in lobby cards before becoming incredibly bored with the prospect.