i personally don't object to valentine's day, and have been known to send greetings to female friends and to take out significant others to fancy restaurants for the occasion.
but i do that as a matter of personal choice, while knowing that whole thing is bunkum. women seem pleased by the attention and at least in the US seem to expect it.
'saint' valentine was no romantic hero, he was yet another jerk godman running around converting people. (much like all other 'saints' -- they did not add value to the world, only to the catholic church.) see his wikipedia entry http://en.wikipedia.org/wiki/Saint_Valentine
also, even the godmen say that 'saint' valentine is the wrong guy to go to: mistaken identity, eh? http://news.bbc.co.uk/2/hi/uk_news/7888539.stm
i'll post a very good piece by kanchan on why llibertinism is passe, and how some people, especially the communists and the pseudo-secularists, don't see the difference between liberty and libertinism.