I've watched far too much anime for any sane human being. I'm not terribly obsessive about my little hobby though, I wouldn't call myself an otaku. It's a pleasant way to pass time.
I've developed some habits in my anime watching. Watch only complete series. If possible, only watch a series if I have access to all its related titles. Watch every single episode.
I'm very particular about the quality of the stuff I watch. Nearly everything I see is DVD-rips, and among those, the best I can find. Only original japanese audio. I refuse to watch English dubbed anime.
I'm not as particular to the actual quality of the anime, I watch the best as well as some I find crap (barring Pokemon and its ilk.)