The one thing you will definitely realise when you switch from a big Christmas that is largely prepping and preparing for everyone else for days/weeks/months on end...suddenly you have time to actually enjoy and savour the day yourself!
It really takes the pressure off, if the kids open presents for hours and run around in their pants, they can! There is no rush, no pressure to get ready for guests it is very chilled and fun as a result for dh and I, and I don't miss the stress of making other people's Christmas the best Christmas ever!
You need to factor in the emotional toll this might take if you are going NC as there is nothing quite like Christmas to make you feel awful about your family situation, so make sure you keep yourself busy.
Our christmases are like this:
Christmas Eve we dress up and go out or we invite lots of friends for drinks at ours with the dc all excited for Christmas. If you don't have friends nearby or available then we would definitely watch a show and have a lovely dinner somewhere super festive. We still do the carrots and milk etc for FC even though dc are teens! We have Christmas Eve baskets with new PJs and litttle gifts.
Christmas Day we do not rush around, we wake up and have our stockings in bed with music and dogs. We save some main presents for after lunch so there is something to look forward to, we open Christmas presents around the tree with a fire roaring and wonderful music. Call family and friends. We then pop in the lunch and head to the church (if we are awake and ready in time) or the pub for a drink with the dogs. We then head back for a late lunch around 4pm and have games and dancing! More presents, lots of wine and song. We settle down later in the evening for a rest and snooze and a film before heading up for a good sleep with zero mess, zero demands and zero stress.
Boxing Day is a long lie in! A hearty breakfast - some on line sale shopping before going out to a restaurant with live music. It is fantastic day and we love it! I always need to get out and about by Boxing day.
My dc and dh always say they love our easy Christmas, and I definitely have much more time with my dc.