I dabble in plenty of the options, but photography is the main part of the hobby for me now, it was spotting, but once I'd seen everything local it lost it's appeal and I gave up for a few years, but last year the purchase of a digital camera and an impulsive visit to Westbury bought my interest back instantly.
I do take the numbers of the trains I travel on, and keep a record, as well as keeping a record of lines covered, so I suppose I could be described as a basher too.
Foreign railways have never held that much interest for me, I can't really explain why, but there must be a reason.
I wouldn't say that railways have lost all interest, you can always find an interesting workings, and even Sprinters and Pacers are mechanically impressive (but maybe that's just my age, I never experienced much locomotive haulage and thus can't miss it).
Anyway, a good idea for a thread Andrew, this could be an interesting discussion.