I do toiletriies, but they are always sample/travel sized bottles of much fancier stuff than we normally use. Yes, I've done deoderant, safety razors, batteries, and other small, practical items that they have to make do without all too often.
We have some traditions that have come down through the years and morphed a bit: I ALWAYS get them socks every year, but put a lot of thought into what KIND of socks for each particular year.
They always get a new toothbrush in their stockings and fake money and ds (who will be 16 on January 3) usually gets some toys that are mostly there to make him giggle on Christmas day; I've put the same little green army men in his stocking every year for three years. He plays with them on 12/25, then I clean up and put them somewhere safe for the next year.
The kids understand that we're "downwardly mobile" and enjoy the stability of our traditions, even when we have to scale things down to where they are little more than memories and gag gifts.
dd is getting a box of tampons in her stocking this year but the actual gift is the look of shock and horror on the boys' faces when she pulls them out and the fun of talking about "the year Santa put tampons in my stocking".
Some years they get a nice (sometimes VERY nice) piece of jewelry in the toe.
ds is getting a car for his birthday. It's a 57 Chevy by Matchbox with a little note saying how much I wish I could give him a real car instead and probably used copies of Hubbert's Peak and An Inconvenient Truth in the same package.
We love our Christmas stockings and probably didn't realize how much until we had to give up other traditions that weren't quite as important.