Note: More people posted while I was writing mine, and I've lost track of whom I was answering. sorry about any confusion.
There's no reason they would need to go Mao, or Spartan, and deny themselves some interesting possessions that make their lives better. I doubt that many Federation citizens own ancient archaeological treasures, but it's easy enough to replicate a few. You could even study those.
Wine, I don't know. I imagine everyone gets some of the good life. Wine isn't being made for money either, and there may be more of the good stuff made through different techniques. (You think wine should stay in the vineyard?!j/k)
There's no elite. There doesn't need to be an elite. It's sort of pathological to want to be in an elite, and with replicators and pride in work and art or science or whatever you do to contribute, who needs to buy or steal rare toys and stick them in a gold-lined closet or something, to feel better than everyone else? It wouldn't impress anyone anymore. You's be a slacker and a parasite, in 24C terms. People would pity you. (We all get good sound-systems, by the way.)
Someone said they might not be issued credits in Starfleet... we'd never have heard the term if they weren't. I don't see the problem with them. I'm sure credits work just like money, and can be given to other species for services or goods. We would have something we can use as money, but we couldn't make money in the old sense. On the plus side, you get a share of, or crack at, some of the stuff the rich people used to keep for themselves... the use of it, not the owning of it. I'm guessing the really nice mansions were divided up, without damaging them, and there are lotteries to determine where you get to live. The crappiest of hovels got bulldozed. Places are built to look good and enhance life, not to be cheap boxes.
No more strip malls!
I would have to be an economist to guess what happens to the value of our money (credits) to outsiders (other planets) if we don't compete for it, anymore. If that doesn't work, I'm sure they came up with some bright idea to overcome any problems.
Someone brought up "human nature" and wondered if the replicators drug everyone... not to be selfish or something, I guess. We only know what "human nature" is like under the kinds of circumstances we were born into. Alter the circumstances, and people's "nature" changes.
Starving people behave differently, as do people who get rich. You can end up changing as a person if you gain or lose respect in other people's eyes. Respect from people around you is a big motivator. If you're born into a world with different values, your values will be different too. You can rebel against them, but people are affected by a lot of factors, that's the point. What we may think is "human nature" is the way people are in this society, in these times.
PS-- I don't know where all the power comes from for the replicators. I thought it was a mistake not to show a power source. I thought of it as a question of where the matter comes from, though. On starships I assumed some matter was drawn from things they passed through in space, somehow. Janeway once said "There's coffee in that nebula."
It's not a magic box, and it was a mistake to have them be portable. They just seem to hand the things over to settlers when it seems such a powerful device that something big and powerful must power it.
Babaganoosh... isn't Baba Ghanouj a Turkish eggplant dip? I used to buy a lot of that, it was my favorite food item for awhile.... my car gave out, or I'd have some now....