Presents

Just about 5 minutes ago, I loaded up Dota 2 and discovered I had new items, that item was a lvl 1 present. Now obviously I opened it because who doesn't like free stuff. And I got a common item and a lvl 2 present, well the pattern continued until I got a lvl 4 present which I couldn't open due to myself being lvl 3 with 398 exp out of 350, now that glitch I do not care about, no what I would like to ask is what does everyone feel about with this present system because at the moment because all I see is an endless supply of items from it such as one of my steam friends who is lvl 67, would he get 67 presents and lots of good items out of it because I know I got an Artificers chisel and an inscribed kills along with an inscribed victories from just 3 presents.
If anyone could lend some knowledge on the matter that would be wonderful.

You do not get 67 presents. You get about 10 in total, which are given to you based on your current level.

Presents I've recieved: 1 through 10 (I think, I went through them quite quickly), then the next one is I got was lv26.

1 thru 10 also unlock some tutorial pages about items, gems, equipping stuff, etc...

See http://dota2.gamepedia.com/Present:_Dynamic for more details.

You get 10 Presents total, 1 each for lvls1-8, then 1 for lvl10, then 1 for 5 levels above you current lvl when you open your lvl10 Present. So say you opened the lvl10 present at lvl89, you'd get a lvl94 Present

I'm stuck at the last one which is 118, I'm 114, have to play more.

I have lv 129 chest.

The contents in the chests seem to be the same across chests, excluding the equip items dropped from them.

Thanks for that! it really helps knowing that it's not a pool of items for players who have played for a while.