I don't want to get all preachy because, to each is own, but my general thoughts on toys are this:
Less is more
Wood is better than plastic
Creative toys that require you to interact (legos, blocks, art supplies) are good
The wee ones don't need 1/10 of the crap people give them
I'd rather get money for her college fund
To that end, I love this interview.
*Link via Oh Happy Day