I keep my list to just about 100. I'm not able to gift everyone daily, but every other day at least. I always respond to wall requests and try to trade.
I like using the wall as a black book. I do use it for a jumping point, but admit I need to clean the clutter a bit more often.
I've just added a couple of new low level friends...hoping I can help them with A/Cs and lead collars...I want those 60 diamonds I spent to pay off! :-D I'm also hoping they'll help me update the "Entering Rooms" information.
I clean out pretty regularly, too. If I see someone hasn't leveled up or played/gifted in over two weeks, then they are usually history. Usually -- I have one helper who has obviously stopped playing, but he/she gives me 15% experience, so I'm not about to delete...I just don't gift anymore.
I can get a little frustrated when I visit a friend and see they don't need any chargers, and I don't have something for their collection. I like having a 2x as many as I can gift for that reason.
I don't delete my MMuff friends though...I think all of us active members like to gift and trade. No one selfish here! :-D And I think we all understand when we aren't able to get on because of "real life."