Well, I was hoping to go away for a month to a place with warm weather, but my wife has a week-long conference, we have some guests coming just after Christmas, and as such I don't think I'll be going anywhere far for very long. What I want (and will get) is some time away by myself, maybe at a spa. In a manly and relaxing fashion, I'll kick back for a week, eat long breakfasts, read every page of the FT, take an afternoon massage, watch television and then focus on my music composition just whenever and if I feel inspired. Perhaps a few drinks, and I'll sneak a cigarette before bed---Sobranie Black Russians.
I don't suppose any of that would work for your gift exchange? Alternatively, I've noted a couple of interesting gadgets I've been meaning to buy, roughly within your price range:
1) Outi Earphone System (Way cool, check it out.)
2) ThinkGeek Bluetooth Retro Headset (Also check out Hulger for a wider variety, but they tend to be more expensive.)
What about a book? Alex Ross, "The Rest Is Noise" (Just bought it and hope to start reading it soon. I enjoy his New Yorker articles.)