I like making my own stationery with things I buy in the scrapbooking section at craft stores. There are even books and magazines dedicated to paper crafts that include ideas. You can find lots of neat papers and stickers to make your cards look creative.
I probably won't be making my own Christmas cards this year, but I am going to start making birth announcements in the next few months. What I plan to do is make a really cute generic card by hand that doesn't have any specific information, and then I'll lay out a template that has the information like name, weight, time born, etc. with my word processor. After the baby is born, I'll fill in the specifics and print on velum and insert the velum sheets into the cards.