harrigran, DH and I decided on no gifts for each other this year, too. It seems a bit daft, when if we want something we can just go and get it. He worries too much about what to get me (he really is notoriously bad at choosing presents), and tells me I need to go and buy myself something for Christmas.....hardly worth the worry for him, really!
I think it's a good thing to consider not buying for older adult members of the family, or if doing so, just a gesture, more than anything. I did end up buying 'bits' for my adult grand-daughters such as scarves, costume jewellery, make-up, pretty stockings etc, because they still love opening presents, but nothing overly expensive.