I'm with you and I'm not old-fashioned. We got married 6 years ago in September and had lived together for nearly a year when we got married. My mother and MIL both gave us some really great advice before we started registering... essentially to be conservative and broad with respect to costly items. They reminded us that some purchases were our responsibility, not our guests.
Dishes, towels, small appliances, china, kitchen gadgets, sheets, bedding, etc all appropriate wedding gifts. A camera with the lenses... we bought that as our our "gift" to eachother. The honeymoon... totally our responsibility to plan and fund. Furniture? Also our responsiblity.
Some people forget that a wedding isn't about a "gift grab", but about celebrating two families coming together. Most guests gave us checks or cash for the wedding, but many gave us gifts off of our registry. They were all appreciated. I received most of the "gifts" at my shower.
There's a wierd trend in registering... I actually got a housewarming invite with a registry listed. Really? I was planning on brining a gift, but it was going to be a gift card to Target and a bottle of wine. I also have a friend living overseas where they have done a baby registry through "Gift Drop"... you essentially contribute cash toward certain items. I get it- it actually saves on shipping and "conversion factors", but I'm essentially sending them a check. Not exactly my idea of a baby gift, but it's working for them.