I love Christmas, and choosing and wrapping presents. But the grown-ups in our family opted a couple of years back to go for a Secret Santa system, and I must admit it's made life easier. So just one present each. The DGC get loads of stuff, and I think everyone would agree on cutting the amount down. DH and I have set a cash amount for each of the boys for Christmas and birthdays. We ask the DC what we should buy and sometimes it's a big present, sometimes a smaller one plus the cash to top it up, sometimes just cash for their savings. It works really well. They're all getting Magformers this year - our suggestion, and DC approve.
I do always fill a traditional stocking though for any adults who are here on Christmas Day. The obligatory apple, orange, nuts, chocolate coins, sugar mouse, shiny pound coin, plus a couple of treats each. Those nuts have been doing the rounds for about ten years - they are warned not to try eating them!