Gift giving, to me, is not about the money spent - it's the thought that goes into the gift that you think the recipient will enjoy the most and the time spent searching for just the right gift. Cash without time and thought is not a gift, it's a payment.
I can see what you mean and in most situations I agree.

I guess for me, culturally, money has always been a gift too, especially for weddings. That being said I rarely have a wedding to attend with a specified wishing well because generally it is a given, that money is the gift. Like I mentioned previously, the idea behind it is that you are helping the couple out with a start to their married life.

Out of interest do you have the same sentiments for a gift register?