Friends (who we always do New Year's with) are throwing a Casino Royale themed party, so the wife and I are dressing up. They got a babysitter for their daughter and let everyone know that this is a kids-free party, so the attendance list is pretty small. It's basically going to be a our circle of friends and no one else. At some point we'll probably put away the casino stuff and break out Catan, Caracassonne, etc.
Everyone plans on getting drunk, but we'll more than likely stay up all night and crash around 5am. Wake up around 10am, make breakfast and do our Secret Santa gift exchange. No one goes home until sometime around 10pm New Year's Day.