I think cengland0 and I may work for the same employer :-). Knowing what you need to do to earn a bonus is as important, I think, as actually receiving a bonus. Otherwise at bonus time it can seem like cash falls randomly from the upper floors, landing on some people and not on others without any particular pattern -- not good for morale, in my experience.

As far as receiving bonuses in cash or in kind, for me it depends on the amount, and what gifts are being handed out. Generally speaking, I'd rather have a paid-for long weekend with my wife than, say, $500, but for anything over $1000 or so I'd rather have the cash.