Christmas is being torn into two holidays: Jesus's birthday, and a secular winterfest. They are separate and should be recognized as such. That being said, I love receiving presents, time off from school, and the Christmas season itself. I hate its extensive commercialization, but then, I hate capitalism (or at least the sort we have now) in general.
But then it would be celebrated sometime in the spring, and it would have missed the whole point. It was put on December 25th specifically to convert other religions who respected that day. The Catholics were quite shameless about combining philosophies for the purpose of conversion.
Commercialization isn't the fault of the companies in my opinion though, as they're just using whatever excuse they can to get you to buy their stuff. If it wasn't christmas, it would be another day (and it often is. Black Friday anyone? Valentines day? Mothers Day? etc etc). Ideally we wouldn't ever feel the obligation, which is where I think the biggest problem lies.
Every year I tell people to get me only what they think I'd like, and the ones with teh most thought are always my favorites. The expensive Nook I got from my parents? It's nice. The $5 plastic filing cabinet I got from my brother-in-law a few years ago? Absolutely amazing.
My oldest genetic brother once asked me to specify "any type of music that you think I might like". I told him "anything you might like, seriously". Trying to prove his point, he asked about goat-herder yodeling or something. I said "sure, if you think I'll like it". Trying to rpove his poing further, he gave me a joke CD called "flute music of the Andes". The "real" present was a few posters hidden in the basement, but that CD is still one of my favorite.