Sharing music in the iTunes library with multiple accounts and iOS devices

My wife and I both have iOS devices (some iPods, an iPhone, soon an iPad), which means that both our iTunes libraries have not only music, but also apps, podcasts, iTunes U stuff, etc.

How could we manage to share just the music in one single location, and still keep our apps/podcasts/etc separated from each other?


Would iTunes Home Sharing work for you?

Basically, one of you would have all your music, but every device would have access to it.