We've all been there or are there.
For myself, I'm slowly gravitating back to "simpler" solid jackets or jackets whose visual interest is in a subtle texture (coarse hopsack for summer, subtle herringbone for tweed in winter). This is not to say that more strongly patterned jackets don't appeal to me (if money and context were not constraints, the navy sherry cash Formosa at NMWA would be in my closet now).
Sometimes not sure if I'm really, really late into stage 1 or early into stage 3. The percentage of strongly checked jackets--enough to override a veto--in my closet suggests the latter. I think part of it is that iGentry is more developed (and accessible in retail) these days, with the consequence that a lot more people are starting in stage 2, making some terrible mistakes, and then learning the value of simplicity (and of "the rules.") This is sort of like deriving every formula during the exam instead of just memorizing them.
I still haven't gone back to black shoes for anything other than job interviews and black tie, though.