M.D.
My 6 year old son is getting an electric guitar and amp for his big gift this year. He'll also get the standard two pairs of PJ's, two new outfits, new shoes, an ornament, and a few toys he has pointed out.
My 4 year old will get the same standard gifts with a drum set as his big gift, shiny red ones! His favorite color :).
My 8 year old will also get the same standard gifts, and her big gift will be a 2 parter, she has been asking for an American Girl doll, so that is part 1. She will also get a Papasan chair for her room. Those together equal the price range of the boys gifts, and will give the same presentation.
Last year we did a big joint gift of an air hockey table, a real 7 ft one with the score keeper, blue lights, and all...it was used from Craigslist for $250! I want to get them a foos ball table too, but we'll save that for next year.