I used to replay RPGs all the time. I've beaten pretty much every SNES RPG I own at least a dozen or so times. With the PS1 I started to cut back a bit. Though, I've still beaten pretty much all my RPGs for it at least twice. Well, except for FFVII, which I would take out once a year to beat up until the end of high school. I think I might have beat it once again while in college too. I don't think I've beaten a single PS2 RPG twice, and my backlog of unbeaten RPGs for the PS2 dwarfs all my previous systems.
I think I'm in the same boat most of the other people here are in: as I grow older, I have more disposable income to spend on games, but less time to actually play them. I only replay RPGs now if I'm in just the right mood. And even then, it's almost always an SNES one that I can blow through most of the content in 8 hours (i.e., a weekend with a modest amount of playtime).