I think we all have different ways of entertaining, and I also feel that the way we entertain reflects the way we decorate our homes and vice versa.
For me, decorating and entertaining follow the same pattern. I like to keep things casual and welcoming, but I also like a bit of luxury and glamour. So whilst I won't be serving caviar, I will buy a bottle of champagne occasionally. I can't afford a new kitchen with marble worktops (er, maybe that's because of all the champagne?), but I will buy a Diptyque candle, and serve that champagne in beautiful glasses. And of course make the house look (and smell) as nice as possible.
So entertaining for me is the whole package. It's about setting the scene, as much as it's about what I might serve.
Getting the lighting right if it's in the evening, lighting some scented candles no matter what time of day it is, getting some nibbles ready, and of course popping open a bottle of champagne (or prosecco when the purse strings are tighter), and pouring myself as glass whilst doing all of the above, is all part of the joy. If only my house looked the way it does when we're expecting company all the time.
But don't save them for champagne exclusively! Remember to pull them out for serving cocktails in too.