I agree that these things get WAY overhyped, which leads to horrible things when a real threat actually hits (i.e. Katrina) as it causes many people to disregard the warnings. That being said, this is the first time I've ever taken extra precautions and stocked up on some things, and that includes several years spent in Louisiana and the Houston area. The big difference between now and then? I have a pregnant wife to consider, so it's absolutely worth it. The biggest potential issue for us will likely be the loss of electricity, and that little poop factory she's baking gets hungry. There's also the potential for roof damage and leaks because we live on the top floor of our building, but I can deal with that as we go.
Total spent today on beer, water, batteries, food, and candles: $30, and the only thing I probably wouldn't use otherwise are the candles. I never buy bottled water, but that was only $3.00. So, really, I'll be out about $6 if nothing happens. Whoopdeedoo. Worth it. And I'll likely still get 2 extra days off as a consolation if nothing happens.