We started the Elf on a Shelf with my 3 year old daughter this year, and it has been a big hit. I don't know how much it affects her behavior overall (she's pretty damn stubborn, like her mother). The main difference is that now, instead of apologizing to us when she messes up, she'll run to whatever room the Elf is in and apologize to it instead.
Back to the main topic--when I was a kid, we did family presents on Christmas Eve. Candlelight service at church at dusk, home for dinner, and presents after everything was cleaned up. This was where you got the boring presents out of the way. If you were getting socks or a new belt, this was when it was happening (there were some semi-fun things, but nothing crazy). All of this stuff was, of course, wrapped.
On Christmas morning, the rule was that we couldn't go and get mom and dad up until it was light outside. I was always the first one up, so I would wake up my younger brother first and we would then wake up the parents. Dad would then go to get the lights turned on (and the coffee started). More importantly, he checked to see if Santa had come. Going into the room beforehand was strictly forbidden--it would not have been wise to cross my mom on that point. Once Dad came back and gave the OK, we would rush down to see what Santa left in all of its UNWRAPPED glory. Seperate piles for each of us, located in the same spot every year.
With my daughter, I have to be the one to wake her up. The main difference at this point is that we don't unwrap presents at home on Christmas Eve--we do that at my wife's family's house after church.
I'm totally in the Unwrapped Crowd (which, of course is different from the "Unwiped" Crowd).