For our wedding, we had a cocktail reception rather than a sit down meal. A little cheaper foodwise, and if you also restrict the drinks choices then the beverage bill isn't too shocking.

We had a pianist playing music in the background, a few chairs around the walls for people to sit on if they needed to and everyone just mingled and chatted and generally had a nice time.

As a wedding cake, we had a croquembouche (basically a pyramid made of custard filled choux pastry balls, decorated with spun sugar)

As others have suggested, go with things that you want - don't try and do things because that's what other people expect. It is YOUR day, YOU are the one getting married so celebrate it in a way that has meaning for you and your fiance.