Tradition makes our Thanksgiving, I don't think we'd ever do without the full harvest feast and the extended family round the dinner table and we do put out our best dishes, silverware, and glasses, but we've done our Thanksgiving potluck style as long as I can remember, reducing the cost and effort on our part. Leaning on tradition, our only decoration, besides the nice dishes and the family, is our cornucopia basket filled with produce that didn't land in the pot. We emphasize non material traditions, such as Thanksgiving letters to one another describing how we are thankful for all they are and have done in the past year. We put out photos of loved ones who could not be with us or who have died, on the buffet if there's room, the mantle otherwise. We put out suet bird treats and food from the table for the animals.
Mostly we retire around the hearth for hours afterward to talk and nap, visiting the leftovers when the will strikes. Rather than go shopping or watch football, I often read out loud from one of our many Christmas short story anthologies (sadly, I have yet to come across good Thanksgiving anthologies). My mother will often play the piano, and all the women in the family will want to sing along while the men tend to run off as quick as they can to fiddle with some computer or other. My Dad, being a shutterbug, will get pictures of the table and the family in their holiday dress around the fireplace. Eventually, we'll have turkey soup or sandwiches late in the evening and watch a movie, typically of the action adveture stripe.
All in all, Thanksgiving is a grander Sunday style dinner with a few extra relatives at the table. I'm not sure what I could cut out.