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My suggestion is that you do something completely different in every way. Larger groups are less inhibited, and it's almost impossible to create that same atmosphere with a smaller group (plus it "sets up" this year's party for a comparison with previous years, and it sounds like it may be hard to measure up). On the other hand, smaller groups make it easier and less costly to find and plan something unforgettable that celebrates and shows appreciation in a totally new and unique (to this group) way.

One suggestion is to look for something in your locale that your staff would enjoy, but probably not do because it's too much expense or trouble. For instance, one year the Trans-Siberian Orchestra was making a holiday season appearance in a city where I have a small office, and symphony season ticket holders got to buy tickets first -- making it was almost impossible for anyone else to get them. I got them though a client contact, and 4 staffers plus spouses/guests met for dinner and then the concert. It was a real treat. Another year, we booked an open "hayride" type trailer to take staff and families through the big holiday lights display (which usually involves a couple of hours of traffic just to get in, so a lot of people don't bother). On the trailer we had food, drinks, street performers, games, (and two port-a-johns -- essential!). The trip from the office to the park, and then waiting in the line of traffic to get in the park, was actually a blast! (By the way, something public like that can also double as a great recruiting or advertising tool.)

Big parties are great, but small groups let you plan experiences that you couldn't with larger numbers. Hope that helps to stimulate some ideas for your office. Welcome to the community and best wishes.