I've always been big on the idea of the "Engagement Sled" instead of the ring. For what some people spend on a ring, you could buy her a very nice sled, so that she can go riding to. Instead of some shiny piece of metal and stone that only her friends and single guys will really notice, she would have something useable.
Me, well, I already had two sleds, so one became hers. Didn't spend a fortune on a ring (she didn't want me to), and several months later, she went and bought us a pair of dirtbikes. Thats not the reason I married her, but damn, it sure showed people that I had chosen the right one...