My parents are doing this - not the small stuff (I think, I hope) but the big stuff. We just "bought" their car (which is really fairly new) because our car was on its last leg. This gift is a huge thing for us, and they told us that it was basically noted in our inheritance. They've done a few other things like this as well over the years, and I know they've done this for my siblings as well. Their attitude is that they are helping us now when we need it and not later when they won't be there to hear us say 'thank you'. Mine is that they are helping us, they don't have to and I'm not assuming I'm getting any inheritance so this is a true bonus for us.
My mom's parents also did this, and they extended it to the grandchildren as well. Again, it was the things to help, not the gifts. Their help means I own my house and not a bank. My grandparents never got to see my house, but they knew we had it and they knew when we were scared for my husband's job, knowing we owned our house really helped us a lot. So, if we got less after they passed away, I didn't care, because we'd gotten such a huge gift already.
If one of my siblings owes money to the estate after my parents pass away, I don't know if I'd make a big deal of them paying it back, but my siblings tend to be smart fiscally and not reckless with their money, so that may influence my decision.