Tracey,
First, in 10 years, your children will not remember what was under the tree on Christmas Morning 2006. They WILL remember things about Christmas: how much fun you all had as a family putting the Christmas tree up, the smell of Christmas dinner in the oven, the excitement of Christmas Eve, and unfortunately, if your husband "went postal" in their presence, they will also remember this as The Year Daddy Yelled.
It sounds to me as though the bigger issue here is not how many gifts your children should get, or how much money to spend. The big issue is your husband and yourself being on the same page. Whether that means 2 gifts not exceding $25 or a maximum of 30 gifts not to exceed $1000.
What my husband and I do each year is sit down and set a spending limit for everyone in the family (our parents and siblings, each other, and the kids), and stick to it (with a little lee-way. For example, if we set a $30 limit but we find THE PERFECT gift for $35, we'll get it).
I also have this stipulation - the number of toys in our house remains fairly constant. If, for example, my daughter were to get YET ANOTHER stuffed animal, an old stuffed animal goes to some type of charity or thrift shop. In my opinion, this has many benefits. First, it reduces the number of toys I have to pick up. Additionally, I know that my child will not be "spoiled" by too many toys (which, I know, is a subjective number). But most importantly, my daughter will have a wonderful lesson in helping those less fortunate than ourselves, which is a wonderful gift in and of itself.
I hope you and your husband can resolve your differences and make next Christmas a happier occasion!