Right now, my wife and I have it set to where all the money I make is "ours". She doesn't work outside the home, but once she does (after we've had a couple more kids and the youngest is at least in kindergarten) I definatly think we'll set up his-her-ours accounts (single checking acct for "ours" and seperate but connected savings accts for his-hers). We'll proportionatly divide the bills and other mutually desired spending (vacations, home-improvement, etc) and make sure there's enough to cover all that. Then some will go into various long-term savings (401k, IRA, kid's college funds). Whatever is left goes into the personal savings accts to be spent as desired by the holder.
The downside is that right now, I have to ask her when I can buy just about anything since she's in charge of the budgeting. And, with all the home-improvement projects, and the upcoming New Zealand vacation, plus her starting back at college in a few months (albiet part-time), there ain't much available for the gun-fund.