Did that for the first time for our cruise in Dec. It made unpacking a little bit more of a pain but it was so well worth it knowing that if something did happen to one piece of luggage we would all be w/o a few instead of one of us being w/o a lot. As heavy as I pack, one piece of luggage with just one of our belongings could still go missing and there would be another filled with that same person's belongings.
I used to try and pack mine and John's separately as, like you said, unpacking is so much easier, but we had a bag go missing, fortunately on return, from Tenerife(Spanish Island) It took 5 days to arrive home, and it just made me think about if it had been going the other way. Of course setting off on a cruise would be worse if you didn't have long enough to wait for the bag to turn up before the cruise set sail
Also we had a more expensive items in there, so now we carry them in our hand luggage.