Ca$h is King man nowadys!
Great article, I hope most folks pay attention to #3 on what not to do and you are right about it being a 'Buyer's Market' in matters of homes. If you have the money it's the best time!
I think what you are saying is a great idea. If you don't need it don't buy it. Some people with the economy the way it is do not have money to put in an emergency fund if you are living from paycheck to paycheck. I think 401(k) is a perfect plan, you will benefit from it in the long run. Putting cash back is easier said then done. If you can that's great if not try putting 5 or ten dollars back each pay period and it will grow. Again, I think your advice above is a great idea and i will put it to work.