I'd definitely have a studio as well. Hell, I've got an app that's a studio and I'm on that shit all the time, couldn't imagine having a professional studio at my disposal.
I've probably spent a couple grand not counting my Macbook and instruments. If I just had a good room....
My collection isn't nearly what it was before kids. At one point I was closing in on 10 grand worth of instruments and the like.
It was not I. I have often said I would not want to win that kind of money, as it can completely wreck your life. I would definitely donate a large chunk of it to some worth while causes, give some to family then hide the rest away and claim I was broke. While building my super 3 acre bunker complex under my current property, complete with NYY secret entrance.
I'd get the biggest most stable sea-worthy yacht I could buy with captain of course & spend the entire winter island hopping in the Caribbean.