Haha, yeah, Zhane's collection what the hell. I always wondered what was going on with that.
He's either a VGM god or just a man who likes big lists. =3
As for me, well I haven't gotten around to creating a collection for myself yet, but I would most certainly just put the CD's I actually own in there (around 40-50, last time I checked). I think digitally downloaded albums should be disregarded, or at least put under their own folder or whatever. Of course, I'll probably create a "favourites" folder one day with albums I don't personally own, but that's to be expected, right?