We decided to do this last month and I just now stumbled on this thread--awesome work, everybody!
We try not to overbuy in the first place and so were pretty surprised at how much random food we had stashed away! Definitely found some odd & very forgotten items in our freezer (mostly frozen veg and fruit..not sure which of us picked out the 5lb bag of frozen green beans, but, I'm sure it was really cheap at the time :) ).
We're getting close to bare cupboards--even ate the can of anchovies we found in our basement pantry!
Our goal now is to cook everything from scratch and not buy anything pre-made/packaged (with some exceptions). Our grocery bill now runs about $35/week for 2 adults and consists of fresh fruit, vegetables, coffee, and the odd condiment (like olive oil or vinegar). We're able to buy our primary food stuffs in bulk at Costco (beans, lentils, oats, quinoa). Eliminating meat and a lot of dairy, except for special occasions, has greatly reduced our grocery bills over time.
Also, LOVE the drink all the wine idea...we get boxed wine, which is by far the cheapest route to go and it tastes pretty darn good. We're working on the "drink all the gin program" right now to consume our Christmas gin!