We have almost everything joint. Both of our paychecks get direct deposited into the same checking account and we have one savings account linked to it. We also have all joint credit cards, except that I have one card in my name only (because I was very young when we got married and I wanted to have some credit in just my name), but it all gets paid out of the joint checking account.
I mostly deal with all the bills/finances, but he has complete access to everything if he ever wants it. We discuss big bills/purchases with each other beforehand, but for little things we don't worry too much and so far there haven't been any problems. We're both pretty good about keeping our odds and ends to a reasonable amount and every so often we'll sit down and outline a very general budget and what's left over after the big, mandatory things. And since I'm the one who mainly deals with the bank stuff, I'm the one who knows in way more detail how much we have, so if he wants to buy something for more than $40-$50, he runs it by me to make sure we can cover it.
And we do have separate (pretty traditional, state system) retirement accounts, but I'm listed as the beneficiary on his and he's listed on mine.
But yeah, just about everything we have is community property. Which works well for us, but I can see how people with different personalities toward money than us would find it problematic.
Wow, we do it almost the exact same way, with just a slightly higher threshhold for spending money without talking to one another--nothing set in stone but I wouldn't spend hundreds without talking to Wes. Other than that, we do it just like ks.