We decided not do the gift thing a while back. Instead we just focus on having an enjoyable meal at home, exchange cards. I still get her flowers and she will pick up a nice dessert and wine.
Brining out my guitar and singing her one song, I get more milage out of that then anything. She tells all her friends and they all go "Ahhhhhh, that is so romantic". She doesn't care if I have a lousy singing voice.