Granted, haven't read all the responses but here is our family's take. The adult (all 50+ at this point) draw names for each other. Dad, bless his heart, still gives to all of us with Ohama Steak gift baskets. Said siblings give to all the nieces & nephews with usually a $25 limit/child. With the name drawing it is usually for couples and ranges $25-50/couple.
DH & I stopped mutual gifting several years ago. Divert those same funds to dinners/travel/whatever. Works for us.