I'm kinda with you on the wishing well thing - firstly it is plainly obviously how much you've given, where as a gift doesn't necessarily indicate it's worth. You can easily look stingy with a wishing well.

Oh the other hand, I understand why couples like them, personally being in my 30's and not yet married, I will assume that by the time I marry, there will be few things left to buy for a couple of this age group.