my husband has the same philosophy, once its in my hands as a gift or someone else's thats it..i (or the giver) should not care. but i dont know, i saw it happening with some wedding clothes and jewelery that we gave to others being given away right in front of me.. and that sucked majorly.
I dont usually recycle gifts but I do put them in a pile of things to give away (which includes alot of my own things as well). i have friends come over and tell them take whatever you want from there. (I do make sure to seperate the things that they gave me :D)
*I'd like to think my gifts havent been regifted b/c I do put alot of time and thought into the gifts I give people....which I honestly don't see others doing.
*
merai saath bhi yeh hee hota hai...i prefer cash though, but thats depen on occasion.