First off, simply put, celebrating love has nothing to do with the people this holiday is based on. They were just your typical martyred saints is all. Why that connection was made, I have no idea.
Either way, I have to wonder why people thought it was a good idea to dedicate a holiday to celebrating love. Why just celebrate love one day a year? My girlfriend and I consider every day Valentine's Day. In fact, we'd rather not even consider that. We just love each other every day is all we need, and we're happy.
That doesn't seem to be the case for a lot of people, though. Nowadays, partly because of advertising, media, and social influence, a lot of people expect gifts, whether it be something as small as flowers, or candy, or both, to expensive things like cell phones and laptops. It's gotten so bad that I even remember a commercial for some Crackberry that said, "Show your partner your love by getting *insert product name here, then insert list of unimpressive features here.*"
I've gotta have it. It's that important.
Of course, I love to buy video games and movies and books, etc., but I wouldn't expect my girlfriend to get them for me to show she loves me. All I need to do to show my love to her is show her that I care for her, trust her, respect her, share things with her, hug her, kiss her, fuck her, and she does all the same for me. Every now and then, if anything, we get each other something, but it's not for any special occasion. We do so mostly as a nice gesture, and we tend to do it randomly.
Also, this holiday obviously doesn't have the single person in mind. Sure, single people can still send valentines and stuff to people, but then again, they can do even better by surprising the person they like by doing so on any other random day (except for April Fool's Day). Otherwise, the holiday, if I remember correctly, was intended to celebrate a couple's intimacy, thus leaving the single guy/girl out, and there are plenty of people still left out regardless.
That's all of the points I can think of at the moment, but I will say that, although I don't care to celebrate Valentine's Day at all, it does make me hungry for candy. I actually do feel like getting a bunch of candy now and sharing with my girlfriend later, especially some Reese's. That's our favorite.