In nearly 7 years of birthdays, I've not yet succumbed to having a piñata at either of my kid's birthdays and I'm not likely to yet. I don't begrudge anyone having them at their parties but, to me, they seem to be the biggest wastes of time. My daughter will watch the whole piñata bashing proceedings but not get involved.
If you have 20 something kids at a party, they stand in line for ages, patiently waiting their turn to bash this thing. It never, ever breaks with the stick, it falls down at least every second time it's hit, therefore wasting more time having to rehang it. If it does break open (which very rarely happens - the Dad normally rips it open with his bare hands), there are 4 or 5 kids that come away with so much stash, they can't even carry it and there are the rest of the kids who either miss out completely or get 1 or 2 treats.
We never had piñatas when I was a child and I don't think my children will be missing out on anything if I don't provide them at their birthday parties.