To gift or not to gift?

Tis the season to be jolly and a jolly client makes for an easier working relationship, we can all appreciate that!  Gifts and dinner invitations seem to arrive in waves this time of year to offices around the world but do clients appreciate the good will or are they laughing at you from a desk brimming with champagne, gift vouchers and Nintendo Wii's (yes, a company I know send Nintendo Wii's to their top clients).

I can view this subject from two ways, working client side it was nice to receive shortbread and chocolates (yep, no Wii's for me!) but did it make me loyal to those suppliers?  Not really! and shouldn't it really be the client thanking the supplier for all their hard work over the year? All we ever sent suppliers was a generic html e-card, woo!  but now, working as a freelancer, I do find myself looking for ways to impress clients and set myself apart from the rest.

It is all becoming a tad like parents buying presents for teachers, the bigger the better, but is it productive?  My feeling is that the old faithful, hand written, Christmas card with a personal message should do the trick!