While DD gets loads in total, it's spread out. Christmas Eve, all in the family get new PJs and a nice hot choc mix, and we take out the "Twas the Night Before Christmas" book that I bought when she was 1 (now turning 9). In the morning there is her stocking and 1 big present (or, last year, there were 4 biggish but not huge presents). The stocking has fruit and sweets, at least 1 book, something useful like socks/underwear, and a few small fun toys. The big things are stuff like a bicycle (Santa has brought her 3 bikes now as she's grown - all very well used), BIG lego sets (which she uses a lot, and has asked for again this year), a scooter (still in constant use 4 years later), a DS game unit (to stop her using mine all the time, and again still in constant use), last year it was a skateboard (which DH had organized with Santa) and rollerblades (which were genuinely really sought after the first organization and have been incredibly well used!!) and an engineering kit for girls. The only big failure on that front was the big dolls house, as she's not a girlie girl - but it still gets some use at times.
When we are all opening presents in the afternoon, there is 1 thing from us for her, just as DH and I have something each for the other, and DD buys for us too. Some years, I have bought a "family present" - a board game, or last year I got tickets to a once-off big sports event that we attended earlier this month.
Our present to DD is usually something like crafts materials or clothes. Her birthday present is usually the other (craft materials or clothes) although the past couple of years it has included a big jigsaw (she loves complicated ones), last year was a much-asked-for guitar (mine is too big for her hands) and the year before was that she got to make her own "Build-a-Bear" (again she'd been asking for over a year - and in fairness, she sleeps with "Max" cuddled up to her pretty much every night).
Having seen how little she has used some of the smaller things from her stockings, I am quite happy to get bigger things if they are what she will use. And not bother with too much small stuff if she just ignores it. We can afford it, I don't go into debt for Christmas, but I don't want to spend loads on stuff that isn't needed or wanted in a real way.
And in fairness, she also buys for us from her pocket money (and sometimes gets an extra bit from the other - if needed - but she chooses), and she also gets an amount of money to buy something that she thinks she'd like, to give to another girl her age who's parents aren't as lucky as hers to have lots of money. And she also helps me do a week's worth of (non-perishable) shopping for a family that we give to a local appeal. So she is not raised to excess or expecting loads.