I love wish lists!
I hate wasting my money on things people don't want, don't like, or can't use. And I don't enjoy receiving gifts that waste other people's money because we don't like them, or can't use them.
I would rather actually get no gift at all.
I know I'm probably going to get flamed for being ungrateful. I do appreciate the thought behind a gift, if it is evident that thought was given, but I find many people give gifts at the holidays because they feel obligated to. Frequently these gifts are whatever was cheapest on sale, or it is a generic household/girl/boy/woman/man gift (like a doll, or a truck, a scarf, or a wallet), it is something they are regifting that they didn't want, or just grabbed because they themselves would have liked it without any thought to what the giftee would like. I find that quite frustrating.
ETA: To answer the OP, growing up my family never did wish lists, and I was really uncomfortable with the idea when I first married DH and his family expected wish lists. I've grown accustomed to it with them now, but I still prefer my family's way of doing it.