I knew Santa was a hoax from the beginning. There was never any Santa in my house. All of my gifts came from my family - my dad's logic was that he did not want to lie to me about things I couldn't see (Santa, Easter Bunny, Tooth Fairy) because when I found out I would be less trusting - and might somehow doubt him about Jesus Christ, who is also not visible.
So he was Santa, the EB, and the TF - I still got presents / eggs/ money - I didn't especially care who brought them.
My husband grew up in a family like yours - Santa brought about half the presents, though. Until - and even after - he and I married, Santa brought a huge chunk of his children's presents. Thankfully, they knew there was no Santa Claus by the time mine were old enough to know one way or the other. We compromised - and coming from two drastic ends of the spectrum, it's a pretty awesome compromise.
We do Santa, but do not pretend that he is anyone other than someone in this house... typically Daddy. We get an Angel off the tree at Wal-Mart or the courthouse and we each become Santa for another child. Some years we do the Christmas Jar and become Santa for a whole other family (we either pick from our friends having hard times, or get a name from the Church or the School). As they've gotten older, we look at Christmas traditions in other countries and "where santa claus came from".
My point is that we have a HUGELY good time with Santa, without ever 'lying' to our kids. Santa is a tradition in our family, not any one single person... and this year, when money was so tight that a lot of what they unwrap is necessary school supplies and underwear, and our donating consisted of more time at the food bank and a couple of thoughtfully chosen items to the USMC toy drive, I don't have to feel bad about not preserving "Santa" for my children.
Merry Christmas
S.