What's the Best Graduation Gift?

With graduation season underway, parents across the country are scrambling for just the right gift to congratulate their high school and college grads. While there may have been a time when the ideal graduation gift was a nice watch or a new suit, today's grads may be thinking more along the lines of smartphones and tablets. But is a gadget necessarily the best way to say congrats? Or is a more personal touch called for?

What's the most useful, most memorable, or just plain best graduation gift you ever got, or gave? Does your family have a tradition when it comes to grad gifts? Did you ever get a gift you could drive home? Can you possibly go wrong with the old standby, cash? Or, did you ever get/give a gift that went comically wrong, and should be avoided at all costs? Tell us in the comments section. And remember, you may be helping out one of those scrambling parents.