My Fiance and I were worried about the reaction we got from people when we said no gifts...so we decided to tell people that if they MUST give, that they should give to people who are less fortunate (and don't already have a crowded apartment full of gadgets and things that the average American consumer thinks they need but really don't!).
We chose 4 specific charities that we felt were good organizations that made significant impacts in healthcare, hunger alleviation, education, and environmental protection.
People aren't perfectly happy with this approach (especially my parents), but it is an alternative to getting random ass gifts that you really don't need/want and that you don't have time to return!!
My two cents....