Personally I think doing a name exchange is great. One for adults and one for kids. It makes these easy and more managable and cost friendly.
It just seems that if you have to buy everyone a gift, you end buying everyone cheap gift that they really didn't want, just because it was what the person could afford. But if you do the names people can spend a decent amount of money on one person and get them something they may really want and still come out ahead money wise.
...However I could be wrong....Hubby's family has a huge extended family Christmas party and the adults usually have to buy everyone a gift. That's everyone adults and kids. However this year they are talking about just doing kids. Which is good, still quite a few kids, there 8 under the age of 6.