No, I'm afraid I despise the round robin for all the reasons given, the boastfulness, the assumption that you even remember their offspring, never mind give a flying feck how many millions they're making in the first year out of University.
But the worst thing about them is that you know the letter has not been written for you alone. Actually, it's not a letter, rather a self-published newspaper, photocopied and circulated to everyone in their mailing list. It's impersonal to the point of rudeness, and it's lazy.
I have a 'friend' who no longer sends proper Christmas cards, but donates the cost to charity and sends Jackie Lawson e-cards instead. We received ours yesterday. I was pretty disgusted to find that she couldn't even go to the trouble of sending a personal e-card - the greeting was "Wishing you all a Merry Christmas etc. etc...." Clearly she had chosen one card, added a generic message and sent it to everyone on her 'Christmas Card List'. So much quicker, why go to the bother of putting individual, personal greetings on? Actually, why bother keeping up with anyone at all if it's so much trouble? 