If it's a gift exchange and anyone could end up with it, I'd try to make it 'appeal' to as many people as possible (i.e. Greatest hits compilations). Of course if they are really into music you might want something a bit less mainstream. I kinda like classic rock so these would be my suggestions:
Beatles - 1
Elvis 30 #1's (or something like that)
Best of James Taylor
you get the idea.
Now for MY list, here's what I would like:
Best of Dire Straits -or -
Mark Knopfler Shangi-la (SACD?)
Aimee Mann - Lost in Space (Special edition)
Ellton John - Madman Across the Water (SACD)