My brother and i each had a stocking as a kid and loooooved running to mum and dads bedroom in the morning to tip it out all over their bed, it was mostly 'crap' but provided endless entertainment eg: cards, textas, little dolls etc. Also had bigger gifts under the tree
These days, DP and I get each other a sack (we always overfill the stockings!) and also have presents to each other under the tree plus gifts from Santa. The pets get wrapped gifts too!!
Maybe we overdo it at Christmas but oh well
We mostly get stuff we need or really want so I see no harm.
I think we will get each other less things when we have kids but our little one (currently baking) will only be 6 months by next Christmas and DP says she/he will be too young to spoil...