Admittedly, I have cats, so my clothes tend to fall into two categories -- those I don't let the cats near, and those that are cheap enough that I don't mind when the cats ruin them. Because claws and clothing just don't get along together.

But, yeah, the nostalgia factor of clothing can be huge. There are some shirts that stay in my closet even though they've seen better days, just because they make me smile.