Hey Brett:
Welcome back! There really isn'r a "wrong" way to collect, is there? Some chase players, some do same company year after year, some collect teams, Hall of Famers, autographs, jerseys, whatever. Bottom line, collect what you like, right?
Some of today's product is ridiculous-- 1 of 1, 1 of 5, cards you'll probably never ever see, much less be able to shell out the big $$ to acquire. Personally I go after older sets, and have created a "set" of my own:
http://tradingcarddb.com/List.cfm/lid/19/NBA-Top-50-Jerseys/Autos
Have fun with the hobby!