[Nagoyankee]

Good advice as usual, JBaymore.

Just to add something no one has mentioned yet.....

Don't thank the person who has given you a present too quickly. Apologize! That is if you want to do this the Japanese style.
If you thank so readily, you will look like you were expecting the gift, trust me. Your first words MUST be of apology.

Recommended plan (and I'm not kidding):

Apologize
Apologize
Thank
Apologize
Thank and
Apologize

If you have any doubt about this, you don't know enough Japanese.