In a certain since I think you're comparing apples and oranges in comparing procrastination with the hierarchy behind needs and wants - this isn't to say they aren't/can't connected because they most certainly can be in certain situations, but give or take they are separate ideas.
As for the procrastination goes with me, I wish I'd quit procrastinating and move out of this small town I've lived in for 23 years and move to a more active area... as for needs and wants, if I could quit buying things I "want" outside that of which I do "need" such a thing would be possible. So, in my "I'm my own worst enemy scenario" both of these ideas can very well be connected – I’m living proof. So, from this you can tell I'm good using myself as an example and using it to prove other people's points
But yeah, it is a lot more fun to have and show off a big collection of something (be it CD's, DVDs, etc.) than boasting about how big of a wad you are currently sitting on. Of course, procrastination can lead to boredom which can lead you to buying things you DON'T need to entertain yourself - something else I'm guilty of.
Oh crap, I've depressed myself again AND I'm bored, time to go buy something! I'll scope out the soundtrack marketplace!
(but seriously, it's not THAT bad, I'm just taking a few light jabs at myself)