We went with joint accounts, but that doesn't work for everyone. My feeling was that she was going to be taking maternity leaves where she wouldn't make any money so it didn't make sense to keep everything separate. We're also both fairly responsible with money and don't make any big purchases without consulting the other (no hard rule on dollar amount in place, but generally buying something like a book or CD or lunch is ok, while buying a new big-screen TV would be a joint decision). We each have our own credit card though.
Some people I know use a joint account, and each individual gets a monthly "allowance" for personal expenditures - this might be a good approach for making sure neither of you is spending excessively.
Whatever approach you decide on, make sure it's something where money never becomes a source of conflict.
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