I dabble in all 3, I would suppose, but more of a #1, then a #2.
I always take the necessity's (shelter, warmth, food and water) and a few comfort items. But I am a scale watcher, as I do with my son's pack. As he carries his gear, I definitely watch his pack-and I am a #2 on his, buying what I can to shave weight on his. His gear has changed over the years, getting more cutting edge as I can find. It will get easier as he gets older, and can use adult gear. Children and UL can go together, if done right. They just have to carry their share ;-)
I love new gear, and I love cutting weight but retaining function. Half the fun of backpacking for me is using new ways and expanding my views. With our hiking group, someone is always showing up with a new item, and letting everyone play with it. Slowly the group has gone from "standard" pack weights to almost all of us sporting light and ultralight packs. On one trip this year not one of us had over a 30 lb pack for a week trip. That was awesome to see, that we had all come so far.
In our group few of us are "gear sharers". Most of us have what we like and have ways of doing it. We don't share tents or stoves unless we made arrangements at the start. If someone needed the item, we would, but it is a group of people who love backpacking their way, just with others. It wigs some people out, but it works. If we had heavy gear though, it would be to our advantage to share though.
I learned a long time ago though, that what most people consider "necessary" is not for the outdoors. I love my little pack, and it shows it's love back to me by not hurting my back ;-)