we had one for dd, she doesn't remember it but i do, birthdays are very important to my husband, his parents never acknowledged his birthdays as a kid or even now so he finds it very important. i love to party plan, i do it on the side as a hobby (i make a little off of it, nothing substantial tho) so I love to plan her parties
I think that, if your religion allows it, you should have a celebration of each year of life. Would you not take pictures of your infant because "They won't remember it"? No...you want that memory. And at 1 year old, the party is to celebrate you as parents as well as your child's first year.