Christmas is more fun since I actually like participate and such. Though E3 has more hype. With Christmas if I don't get a gift I want, I can always buy it myself later if I really want it (I don't expect my loved ones to buy me anything I couldn't afford myself). At E3 I can only buy the games that are actually made and E3 is when most games are first revealed.
I would like Pikmin 3 for Christmas. If no one gives it to me, I'll buy it. But I can only get Pikmin 3 for Christmas is Nintendo MAKES Pikmin 3. E3 is like where you find out what you want for Christmas.
Though for a kid, Christmas tops everything for anticipation. Gifts were more valuable then because I had no way to buy things for myself. You have more hope when you don't have control over a situation. We have no control over E3. We can only hope that Nintendo gives us something nice.