Well that makes three of us that had similar ideas and didn't managed to fully implement them before Christmas :-p
Mine's more early alpha stage (and on hiatus) as attempting Facebook integration was biting off a little more than I can chew...
I still think there's a lot of mileage in the concept though as I think there are some pretty key features (other than vendor independence...) that Amazon's wishlist and Best Buy's Giftag are missing. Happy to talk
I was definitely thinking that facebook integration could really lower the barrier for people to use something like this. I've also been working on that piece of it.
Mine: undercoversanta.com (also early early beta - too late for this year's gift season).