We usually have spaghetti dinner on Valentine's Day. :) It's something we have done since we have been together. He said this year we might go to dinner though. So, I really don't know what we are doing.
For us it has turned more into a family thing rather than a couples thing. Our children love the decorations, flowers, exchanging cards and such. I usually get Orchids. For him I make his favorite meal, once the kids are asleep we enjoy "us" time.
Nothing. It's just another day. It's ridiculous to pay overinflated prices for gifts on day created by the retail industry to pressure people into feeling like they are inadequate if they don't buy elaborate gifts for their SO.
I'm making a special care package for him since he's deployed. It will have some valentines related items as well as cards from our daughter and myself. I also made kisses up on cards and had them laminated.