I don't *think* I am--at least not yet. But I just read about the new Animal Planet show and I began to wonder...I do feel stressed sometimes when caring for my 5 Labs and the litter I have now. This year my vet expenses so far are are over $3500. And I've spent several hundred on food and toys. I look at the new puppies and think about which one I will keep and then I stop and wonder--would he be better off in a pet home?

He will be better in a pet home. There is no doubt about that.
For me, after 4 dogs, it is too much. Same thing with kids. You can't give them enough time and love if you have too many.
I have many more than 4 dogs, but I stay home and make sure they all get loved daily. Do I feel bad about them sometimes? yes. That's why once they are done showing/breeding I look for a loving home for them and that way I keep my dogs in a manageable number.
I think that the key here is What are your plans for your dogs? would you keep them until they pass of old age? then Let that puppy go to a loving home.
This post should pick up some flames, because there is no correct answer. It all depends on how much time and capacity you have to take care of the dogs, yourself and your family.

AHA, but if you breed and do not keep something are you not then puppy farming?

I had better watch I don't bite my tongue off while it is so firmly planted in my cheek. LOL

Ya can't win Ya Know. Someone will always get you HaHa.

"Same thing with kids. You can't give them enough time and love if you have too many." And, pray tell what is too many? I know of several families with 10 or 14 children which many people feel would be too many. They get more time and attention than most families with 2 kids where both parents are working full time. These kids are all academically, socially, emotionally and spiritially happy and successful. Their parents see the children more important than their career or finances and pour their life into them.

Same with dogs, some people give loads of time, energy and training to a large number of dogs as other responsibilities are limited. I just visited a kennel of 16 dogs - all very people oriented, clean, happy with large play yards, all well trained and gorgeous. Dogs interact with humans hourly. All housebroken and have some house time.

On the other hand my obedience friend with 3 dogs is gone most of the day working (not her fault of course). Dogs only get an hour or so when she finally has time for them late at night.

There isn't a standard "magic number" of dogs that is too many. For some, one dog is way too much, some can handle 10+ just fine. Personally, I don't want more than 4 (I have 3 now). A personal relationship with each dog is important to me, as well as the financial means to take care of them in a proper fashion.

Hoarding is a mental illness. I have seen hoarding first hand, but this involved more than just dogs. They hoarded all kinds of "stuff", fake silk plants, old useless things they can't part with, etc. There seems to be a cleanliness factor too.

If you feel as if you might have a problem, seek some counseling (and I am NOT saying you do).