1) Have you decided if you are going to matriculate or are you still holding out for another decision?
Still holding, but the feeling of getting into ONE school, an Elite one at that, is just a relief (and joy). I still have other schools that are very competitive with my first admit, so we'll see if I need to make that difficult decision at all.
2) Where are you holding out for or what would it take for a backup school to win you over?
Stanford, Haas, and Kellogg. Though with a 4/15/2008 decision date to matriculate, I hope Kellogg is as fast with its decision in R2 as it was for R1. Not sure if Kellogg Admit weekend is after 4/15 though...
What will it take for UCLA to win me over? That's a toughie. I do LOVE the program and think the school should be ranked in the top 10 for what it offers (if its adcom ever gets its act together), but due to location (and somewhat the name brand), Stanford and Haas just may have the edge if I get into one of those. Kellogg vs UCLA will be a TOUGH one. I know all of you Kellogg admits are probably saying "blasphemy" right now, but for me, UCLA is a better fit with my future goals, internship opportunities, and the location is much better than Chicago (sorry, I'm a West Coaster).

So yeah, UCLA could win me over Kellogg (though it'll be tough), but against Haas and Stanford...
3) Are you still planning on working on R2 applications or are you gonna save the application fees and enjoy your new found peace of mind?
Unfortunately, due to how Kellogg does it's Part I and II thing, I paid my application fee already, submitted my rec letters, and filled out my Part II apps. I need to write about two 1/2 essays where the rest can be reused... would be stupid not to apply, but like Avi said to me, I'm not sure if I'll be able to find the motivation. I hope so.
4) Have you begun to dream what its going to be like to quit your job and head back to school?
Yup, been dreaming it before the news, hahaha!

But now it's a reality, so first thing is to buy a laptop

Of course, the promotion and the big raise recently might keep me at work a few months longer than I originally planned.
5) Sobered up from the celebration?
Haha, still hasn't sunken in yet. And unfortunately, I can't drink. Therefore, I'm in Vegas right now (which is why it took me almost 12 hours to post this news) and will be playing poker and shopping non-stop the next two days! Woohoo!