I've done a little bit of research on the folklore of Saint Nicholas. Stories conflict about who he was and who he helped. One thing seems consistent through the various stories: Saint Nicholas was a man of God who helped the destitute.
Santa Claus of today seems to be a glutton who probably has some serious gut dysfunction from all those cookies. He seems to pass over the poor of the world, and heap toys onto the wealthiest children this world has ever seen.
My parents did Santa when I was growing up. We got a stocking from Santa. When I asked Santa for a piano, I got a mini piano, because he only can bring things that will fit in a stocking. One year, my Dad had my oldest brother, who was nine years older than me, get us all up in the middle of the night to peer down the stairs at Santa putting toys in our stockings. We thought it was awesome how the dog didn't bark at Santa, since the dog always barked at strangers.
Dan's parents omitted Santa because they thought it was lying to their kid. I can agree with this point. If we put gifts in stockings in the future, we won't lie to our children and tell them someone else bought them for them. We might tell the story of a kind man who gave to the poor, and remind our children that they too should be thinking of those less fortunate than themselves.
I don't like that for some families doing Santa feels obligatory. No tradition should feel forced. We may do Christmas differently than others, but we are evaluating each tradition open to us and deciding if it is something we want for our family. It will probably be years until we have a set of traditions that we are truly content with for our family, and I think that's a good thing.