I have some input on FEE...
On ours in the past, it was more honesty policy - surprise at will - kind of exchange... We all promised to deliver something at least 1 time, most people did much more. Everyone on our FE exchanges always made it special. Pretty much every single day we came "home" to something in our FE, usually it was several times a day!
Basically we would focus on kids, and do a little for the adults, too, or make a family gift and stick it in the pocket for the adults...
For my last cruise, I had 4 gifts that I passed out for the kids and 1 family/adult gift, plus candy for the adults. If I remember correctly, we had about 15 families, and 4 gifts for each kid (there were 20 kids). That was 95 gifts. I put small ziplock baggies with each person's gift, then put all of those in a large gallon sized baggie for each day. Then I could just grab the baggie and go out delivering. This barely took up any space in my suitcase (maybe 1/4 of a suitcase), and we used that space to carry home souvenirs, so it worked out. The big gallon sized baggies were reusable for things like wet swim suits, toiletries, and bringing home our FE gifts.
It sounds like a lot, but it really increases the "magic" value of the cruise, and is totally worth it.