Debt Free - What Now?

I know we are all looking forward to the day we are debt free. But what do you plan to do then? There was a thread on a message board asking what your plans were once you become debt free (excluding the mortgage). It got me thinking.....even though you are debt free, you still need a plan. You just can't start spending and spending again...that's what you in this mess in the first place. So, as we are getting closer and closer to having our debt gone, we started looking at the "what now" factor. So here's a rough draft, you might say, of what we plan to do.
1. Put back money to pay cash for another vehicle (we only have 1 now)
2. Save for at least 3 months expenses in a emergency savings account.
3. Increase the percentage deducted to our 401K
4. Pay off our mortgage (we will probably be adding a small additonal amount
to principal even while we are doing above)

Personally, I would like to have all of this completed in 8 years. Is it possible, I have no idea right now. We are just trying to take things one day at a time. You just never know what may happen from day to day.

We would love to be able to take vacations and travel somewhere during all this...but we'll just have to see.

What's your plan?