I love entertaining, although most of it is not the kind where I would be using the china . I don't have "chatchkes" and I hate clutter, but I do have a very nice collection of silver pieces and crystal stuff, courtesy of my mom. My sterling, I bought myself, about 10 years ago. My fancy glassware is cheap, but nice. But, when I use my parents' sterling pitcher or platters, I feel like it's a connection. Maybe it's a generational thing, but I know both of my DILs like this stuff, too and they are 25 and 33.
Figurines are things that no one in my family has, so thankfully, I don't have to worry about getting rid of that stuff. While I probably will sell my formal dining table and hutches, I will not get rid of my good dishes, silver, and crystal when I downsize. My kitchen table extends to a size that's comparable to my dining room table (I've only done this once), so I look forward to many years of family/friend holidays, even if I'm in a townhouse. In fact, I told my DH that all I want for my 60th birthday (in November) is to have both of my sons and their spouses here for Thanksgiving. Since one of my kids is back in school and so is his wife, my present is DH paying for them to fly here from California. I look forward to using every piece of my "fancy" stuff then.