Yes, it's all personal preference.
The best way to really find out is to try it, which hopefully the original poster has the financial ability to do. Play with all the effects, tart up the sound like crazy, find something that really wows you. Play that way for a while, and be sure to play with others, not by yourself (what sounds great when you're alone often sounds lousy when the rest of the band is playing).
Then shut it all off and see what happens. Is the sound clearer, better defined, more pleasing? Does it do the job of supporting the music better?
That should really tell you, your bandmates and your audience whether having a zillion effects is a good idea.
Having been there/done that long ago (let's see...I've had wah, digital delay, flanger, a couple of different chorus boxes, a couple of different multi-fx units, a SansAmp, compressor and probably a few things I just don't remember), I came to the conclusions posted earlier. But as you say, it's just my $0.02.
I still have one multi-fx/amp modeler (a Pandora PX4B) and a chorus (Boss CEB-3). Of the 50-odd songs my band plays, the chorus gets used on one of them, and then only for part of the song. Three or four of the Pandora patches get used on a few others. The effects are used in specific places, for specific needs that we just can't get around (for example, since we have no lead guitarist I have to play some crucial guitar hooks on certain cover songs, so I'll kick in some heavy distortion).
But for 90 percent of what we do, the effects are off...because it simply sounds *better* that way.
The journey is an important part of this. I may not have come to that conclusion had I not tried all that stuff first. Many of us, myself included, go through a phase where we want more of everything...more knobs, more eq, more effects, more power, more, more, MORE! That magical sound that's going to tickle my neocortex and send shivers down my spine has to be in there SOMEPLACE! If I get this gadget I'll be able to sound just like (insert your favorite bassist/song here)!
Eventually the appeal of the K.I.S.S. approach came through. I wound up going back to basics: A good bass, a good preamp and a good cabinet. I've never sounded better.
But that's just me.