Association of College and Research Libraries' (ACRL's) "2016 Top Trends in Academic Libraries" noted a "shift to the incorporation and integration of more continuous, ongoing, flexible, and sustainable review of collections," and "an increasing need" to align collection development with "institutional research and curricular requirements." This article describes these trends playing out at a top-ranked research library. Given the library's long history of collecting print books, the article examines the monographic acquisitions program from multiple angles, including circulation, expenditures, approval plans, and e-book usage. There are also suggestions for additional metrics to evaluate collections as a service, as well as questions posed to frame an ongoing research and assessment agenda. The models described in this case study and the proposed research and assessment agenda can be adapted by other academic libraries, both to fit local institutional needs and as collection development and "collections as a service" are increasingly realized within interinstitutional collaborative networks.