Is it really the thought that counts when it comes to gift giving?

No. I love handmade gifts. The idea that someone spent all that time making something nice makes me happy. (I made most of my gifts this year--hats, scarves, jewelry--and wow! They take a lot of time and effort!) And if someone gave me something they didn't buy, I would appreciate it just as much. Unless maybe it was slightly used. That would be different.