Boys are 7 and 9. We are drowning, just drowning in toys.
I have been pretty good in that I have boxed up and lofted: duplo, certain special baby toys and wooden train and got rid of a lot of the larger "preschool" toys like play kitchen, pots and pans, playdoh stuff etc.
They still occasionally do dressing up (but I have my eye on that next and I have got rid of the too-small costumes) and like to have Cuddly Olympics with their millions of cuddly toys. They are totally in the prime of love with Lego of which we have millions.
Things I would happily let go: Tracey island, millenium falcon, toy cars, toy animals and dinosaurs, playmobil, anything plastic over about the size of the playmobil helicopter.
They are adamant that they play with them ALL. They don't, but they notice if I sneak it out to the charity shop.
Is it because they are still little enough to want to play with some of the younger stuff, but old enough to play board games etc that we just have so much? Is it going to get better? Will they suddenly say "actually I think we're a bit old for this, mum"? Or am I going to have to be The Bitch (again)?
Either I invest massively in new storage (££££ nobody puts expedit on freecycle) or I chuck chuck chuck....WWYD? WIBU to just get rid of a load of stuff?
AIBU?
To feel that we are at "peak toy".
specialmagiclady · 21/03/2014 14:36
Great idea to sell toys your DCs have grown out of and let them choose new toys to replace.
My DSS will be 17 in Sep OMG and he would kill DP and me if we so much as hinted he gets rid of 4 massive boxes of Lego. He used to play with Lego City, Lego Indiana Jones, Lego every bloody thing known to man night and day for nearly 7 years, even took him Lego designed cars to bed with him 
We reckon he will keep it for his children so long term storage is being planned.
Latest craze is, very surprisingly out of nowhere, Star Trek, so we havent completely ended the collections.
Hope your clear out goes well!
Can you not just rotate toys?
Buy some storage - it is a good investment because you can use it for sports kit/shoes/bike tools/musical instruments etc as they get older.
Give them X amount of space each, and the rest has to go boxed in the loft. Every 2/3 months they can swap some things around. Tell them to consider new purchases carefully, and birthday requests.
Gradually you'll find that some things get left boxed up in the loft and then you can count them as out of circulation.
It is win win. Less stuff lying around, and you don't have to get rid of things.
My boys love their wooden train set - they are nearly 6 and 3. I am stunned that a 4 year old is deemed to have outgrown it!
I do think that there is a tendency to buy things to early for kids these days, so that they are bored and wanting to move onto the next thing before they really get the best out of it.
I think your DCs sound great OP, isn't the reason we spend £££ on things like Lego/Brio etc to get a lot of use out of it? Doesn't mean it all has to be underfoot all the time! 
I hear you, out of 3 children we managed to produce 2 of them within 5 weeks of Christmas... We hit peak toy last year when I put my foot down and hid loads of toys in the garage and we smuggled them out to a charity shop 15 miles away near DH's work just to make sure nothing got spotted!
DS is now 13 and is slowly getting rid of most of his stuff but I fear he's his Fathers' child as he keeps saying "I'll keep it just in case I need it" 
My method is binliner in garage - if the things aren't missed after a month or so, its out (charity collection for decent stuff).
I let DD keep an awful lot of stuff for ages though as there was space in her playroom - it was only last year (aged 14) when she moved into it as a bedroom that she finally binned the bloody drawerful of barbies which she'd always despised but wouldn't part with. I think I'm going to have to live with her huge pile of soft toys forever (or at least until she has a home of her own).
She triaged her books into keep, bin and archive - we've got a couple of storage boxes of the lovely ones which if she has kids of her own will be passed down - I never quite forgave my mother for getting rid of my childhood books (esp the Beatrix potters) when I went to university.
My youngest dd is 7 and she still plays with Play-doh! It's not a 'pre-school' toy as you put it.
I'd be wary about throwing out toys too soon. I look at this this way - I love the fact they're still little enough to play with toys and enjoy them. It won't be that long until they've REALLY outgrown toys.
Dc grow up and move out eventually, childhood goes by in a flash. THEN you'll be left with a lovely tidy house 
Don't people remember the pleasure of finding a toy at home that hasn't been played with for ages and then play with it for hours? I do.
I'm also sentimental about my dc's toys. They're not just objects, it's the memories they represent and your dc's pleasure in playing with them.
pandsbear that so, so sad 
So in answer to your question OP, YABU to chuck toys out. Spend some time organising them with proper storage, rotate them or whatever, but toys and general clutter come with the territory of having dc.
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