This is our 3rd Valentine's Day together, and we don't have any set rules, really. If we're inspired, we might get gifts for each other, but last year we just got cards for each other and that meant more to me than any gift. (I am a sucker for ktspktsp's words of love.)
I thought it was cool that this year I could buy him a card with the word "husband" on the front, if I wanted to (which I didn't end up doing, but oh well).
While buying his card, I happened to find a little gift that he would like... but it's not a "Valentiney" thing (chocolate, flowers, etc). It's just something he'll enjoy.
Besides, our dating anniversary AND his birthday are in April (same day, pretty much), so I'd prefer to save up and celebrate that. And we like having special blow-out dinners on other occasions that are less "loaded," as Sultana said.