For me:

a BMW SUV
Vacation home in Tahoe or Aspen
Louis Vuitton Luggage
Airline pass
Shopping spree of designer clothing and shoes
Expand my apartment to make it larger, and RE-DO my Bathroom SOOOO TINY and such an akward shape.

For family /friends

Mom: New home in Woodside, CA
Shopping spree
Sailboat, a nice medium sized one... not a yacht.

Dad: Whatever car (I think he wants some sort of Mercedes)
Never ending gift card to Dell.com or Fry's Electronics
to feed his tech geek cravings

Roommate: New car
Shopping spree

Lil Sis: New Car
new computer

Best Friend: New Car
Pay for her to finish College
Apartment

If money were no object:

I would make sure I have no debt (student loans, etc)
Travel
Get a another degree
Take care of my parents and sister (including other family members)
I would do a little shopping but not go over board
Create a non-profit organization
I would make sure I have accounts set up for retirement
Start my own business
Invest
donate money to good causes/charities

I know that if money was unlimited I would not have a lot of stress and I can enjoy life more :).