Custom fields for product, order, and emails

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We just purchased the Business Edition so that we have the enhanced features to help us with this task.

We are creating a new product, which is a Gift Certificate for an airplane ride.
We do not need the Serial extension, the gift certificates are created and sent to the recipient by a staff member.

I would like for the product to have a custom field "Send directly to Gift Recipient ?"
and if that is answered with a YES, then the custom fields for Gift Recipient Address are shown.

THEN the notification email to ADMIN and to BUYER must show that the product is to be sent to Buyer or to Gift Recipient.
The order shows the extra fields that I added, but it's rather primitive.

I have created some custom fields and done some testing, but I decided to ask you the best way to do this.

Is it easier to create TWO products, one for "send to buyer" and one for "send to recipient" ?
OR is it easier/better to somehow build the IF/THEN logic into the product ?

Please let me know the best way to handle it.
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The custom fields that I have already added:
yes_no_send_to_gift_address Send as Gift ? Single Dropdown
gift_recipient_firstname Gift First Name Text
gift_recipient_lastname Gift Last Name Text
gift_city Gift City Text
gift_street Gift Street Address Text
gift_state Gift State Text
gift_post_code Gift Postal Code Text
gift_custom_message Gift Greeting/Message Text
gift_email_address Gift Email Address

Thanks for this reply Nicolas.

Please allow me to express my sincere sympathy and wishes for the healing of your Nation and the families of the fallen.
Blessings flow out to comfort and strengthen those affected by the horrible crime.
I was a Ranger in the US Army (many years ago), and it would be my pleasure to end the lives of the ISIS scum that planned and supported this massacre.
Together, our nations will defeat them.

When you say ""display limited to" setting of your custom fields so that the system would only display the recipient address field when necessary.", I'm afraid that I am unable to figure that out...

I have deleted all of my previous custom fields, and I'm re-creating them in the order table.

The "Display limited to" dropdown list first requires me to save the custom field, then it only gives me these choices:
all
Comment
Deliver Date

What shall I use to make these custom forms only appear on these particular Gift Certificate products ?

Thanks very much for your assistance.

Regards,
Kent

PLEASE WAIT before you answer this, please, I'm making some progress I think...

NO, what I tried did not work.
I created a custom field in the PRODUCT that is GIftYesNo - and only displayed it in the back end.

Then I tied to set the other ORDER fields to display in front end, but cannot set them to Display Limited To for gift, because the GiftYesNo field is not an option in the Display Limited To list.

I know that I must be missing something very fundamental...

OK - I think that I have it now...

ORDER table fields, BUT with the Gift Certificates category ONLY chosen
THEN each additional field is triggered by a delivery method choice
either email or regular mail
either to buyer or to gift recipient

We will test this and see how the emails and the order details look.

b17texasraiders.org/index.php/gift-shop/checkout

Thanks,
Kent