No material components for me. For that matter, no verbal or somatic components, either. I do use verbal and somatic components in flavor text, describing how the PC casts a given spell, but I don't pay much attention to the spell's description. I generally assume that all spells require concentration, speech, and some sort of gesture. Failure to have all three of those usually results in failure of the spell (barring successful Concentration checks when appropriate).
When I got Spells and Magic for 2nd edition, I tried running a game where spell components had to be kept track of. It was too big a headache for me, so now I don't bother using them at all. Spells that require an expensive or rare component are generally not used in my game, anyway, since I've removed stuff like Resurrection from the spell lists.