When I was married, I had to start shopping for Xmas gifts early. My husband's family was large, mine wasn't, but I also had to shop for his employees (aside from their financial bonuses) and business associates plus our friends. So I became stressed out early. Don't let all this gift giving stress you out because you can't give the way you used to. That's such a killjoy.

I'd go w/the gift exchange idea. Draw names out of a bowl; it makes it so much easier on everyone, you won't know who drew your name so that makes it more exciting. When I was growing up, the family grew so much that there was no way we could keep up w/all the grandkids, nieces and nephews, so the gift exchange was the way to go. Plus we put a limit on how much to spend for the gift. If there are individuals that you feel you absolutely must give a gift to, then offer a service to them, such as pet sitting or cooking a meal for them, etc.

Above all, don't let guilt enter the picture. You have nothing to feel guilty about. That would definitely put a damper on things and is not in keeping w/the holiday spirit.