Specifically, it asked guests not to buy gifts, but rather to send or bring cash. Even if this is becoming more widespread, I find it despicable and, frankly, unnecessary. Couples can register almost anywhere and take the gifts back for cash, if that's what they want to do.
I just wanted to point out that gifts bought on a registry couldn't be exchanged for cash; they would offer you a store credit as a return unless an original receipt showing that it was paid in cash was provided. And even then, sometimes not, depending on the store policy. (i.e., Target has a pretty stringent policy about their returns.) Ahem. Anyway, sorry to be nitpicky, because honestly, I agree with your point about this being tacky.
If you would prefer cash, just don't list a registry on your invitation. Most people have the common courtesy to give a gift, and in lieu of a preferred store, most folks would probably just give money. Problem solved. If they don't, well, don't sweat it. With the exception of saying, "The Bride and Groom are registered at such-and-such," no other mention should be made of gift-giving. Unless that mention is, "The bride and groom would prefer, in lieu of gifts, a donation be made to _____ charity." Now, that's classy, in my opinion.
To veer back on topic ... I agree with the poster who said that the problem is not often the type of food, but how
much food is offered. This is constantly a worry of mine! I usually make a huge spread of appetizers and desserts for my parties and often end up with too much food, but I'd rather have too much than not enough. I also think it's not a bad idea to have some ready-made stuff you can put into the oven, just in case. I usually get a few pizzas or frozen apps that I can use in case of emergency. It doesn't happen often, but every once in a while, I have to break into that stash! If you're opposed to the store-bought route, just make some extra stuff and freeze it. Pop it into the oven if you start to see your food supply getting low. Keep tons of extra veggies and cheese cut-up so you can replenish as the night goes on.
And if you buy cans of pop, or bottles of beer or soda or wine, if you don't use all the bottles, at least you're not wasting it. If you're really that cheap (!), return whatever you didn't use after the party. Your guests will never know and you'll be sure you have enough food/drink to cover everyone.
Here's my pet-peeve: I dislike it when my friends ask for donations on a party. I understood when we were poor college students and needed to pool funds for a party, but let's get real: we've all got regular jobs now. You can afford to fund your own party. And honestly, if you can't, why are you having a party? Seriously. I probably spend a good amount of money every Christmas hosting a party; providing a full bar and a nice spread of food and drink. Granted, a few of my friends bring appetizers, and I'd do the same for them. But to ask your friends to contribute cash to help cover your costs? Tacky.
PS:
Olde School, I swear I went to a wedding at that same Holiday Inn in Iowa! Was the reception in the musty basement?
-- Nora --
"Great food is like great sex. The more you have the more you want." ~Gael Greene