DesirousOfChange: I think too many families go way overboard on it and go into debt and it becomes a source of financial (and maybe relationship) trouble.
That is how I always saw it when I was a JW. And I know some people who dreaded Christmas because of that. But the friends I exchange gifts with usually find some small knickknack or other small but cool/funny item that makes the exchange relaxed and fun. Thanks to them, I got to experience it as an enjoyable get-together. I look forward to this time of year for more than just the handful of days off.
And again, I'm struck by how I never got to enjoy Christmas until I wasn't a "Christian" anymore. When I was a JW, I would rationalize why the people celebrating Christmas weren't as happy or excited as they seemed, why they were actually bitter and miserable. I think I was looking into a mirror and didn't realize it. I feel bad for people who are still like that, and am glad I got away from it.