I've been going through this same thought process myself. I've got a 4-cyl 2000 Honda Accord EX-L (what else, I'm a lemming!) with 144k miles. It's still in really good shape, but I've been eying the current crop of Hondas, maybe a Fit? I don't need a big 'family' sedan for my 5-mile commute.
But the economics just don't work. There's no way that better gas mileage will make up for the new-car ass-rapeage (as LJ put it).
So, maybe some toys for the current car. A new
stereo, with bluetooth, USB & aux inputs? A detailing job, to get rid of all those tiny paint chips and rust spots? A new windscreen? (I've got two
big chips on the passenger's side -- it passed inspection, but it's annoying.)
What's economical to do? What's practical?
Oh, and does anyone recommend HD radio? The receiver I've got my eye on (the Alpine CDE-103BT) isn't HD-compatible.