Assembled. Took me four hours to put together her play kitchen last year. Although we ended up wrapping it as well (basically draping it in wrapping paper with a bow)
Definitely assemble for big items like a Barbie house, or anything with a lot of parts and stickers that need to be put together/stuck on. That way kids can start to play with their new toys right away. This year I found large plastic gift bags at the dollar store to put them in.
We assemble everything and take everything out of packages. The big stuff (like DD's Little People farm last year) we set up under the tree unwrapped. The rest gets wrapped, just not generally in its original packaging.
I don't celebrate xmas as I'm non Christian but OMG yes assembled I'd squeal even as an adult if I got a gift assembled looking all nice and chic with a bow on it
God Bless You my Little One Farida, our first child, born on the 19th of July 2014 Farida, at 8 weeks
Assemble only the big items. My MIL has a way of always purchasing exactly the same thing I tell her I'm going to get then conveniently losing the tags. So I usually have a few items form Santa I have to take back. Annoying to say the least.
I always grew up with Christmas day being the assembly day so it doesn't bother me.
We set up whatever Santa brings and everything else is boxed. I do think that I will precharge the Kindles and set up free time, etc. so that does not become a Christmas task.
Re: NWMR: Assemble toys vs wrap toys
God Bless You my Little One
Farida, our first child, born on the 19th of July 2014
Farida, at 8 weeks