Currently Being ModeratedMay 5, 2012 8:51 AM (in response to darnit11.8t)
Welcome to the Apple community.
Ideally you should each have your own iCloud account, this will stop contacts, calendars etc being deleted by others.
Music is part of iTunes and nothing to do with iCloud, you can both continue to share the same iTunes account and hence the same music etc.
If you both use separate iCloud accounts, you cannot share photos by photo stream, however you can still sync your photos from your computer to both devices which again has nothing to do with iCloud and is done through iTunes.