I think I've been doing a mostly-decent job at recognizing what not to take on, though. Example: I have not joined the SCA, despite cajoling by SCAdian friends. Because I know that would be crazymaking. Other example: running BPAL decant circles. It would be a great way to be able to try everything. But. Crazymaking and majorly time-consuming.
And I'm actively engaged in trying to make existing timesucks a positive thing. I was very seriously considering giving Wind Tunnel Dreams up, because it was running me ragged - but I found a way to make it something creative and fun again (thanks, Kyth!).
It's all just a continuing process of figuring stuff out. And I'm steadily making progress. *nod*