My gaming this Christmas will consist of the Mass Effect trilogy on PS3 - I sold my 360 last year and I didn't see the point in getting 2 and 3 when I couldn't play the original; a crappy comic book just isn't going to cut it given how much I enjoyed the first game - and likely Dishonored, provided it drops sufficiently in price. If not Dishonored, then Rune Factory Oceans. I have a small backlog of games already released that I'd quite like to play that I plan on asking for, and I know I'll get the ME trilogy because my parents will usually buy me the game I ask them for.
Christmas is a time for me to save money, rather than spend it, because the main games that I want are coming out next year; in terms of all-new releases this holiday season is a bit underwhelming, with only Paper Mario: Sticker Star attracting my interest, and not enough for me to put it above the other two games I just mentioned that I will definitely ask for and likely get. I may also import Persona 4 on Vita to see what the fuss is about (and because all I have on my Vita is Disgaea 3 right now) but otherwise it'll be something of a quiet Christmas on the gaming front.