I know this thing is personal/individual, and different books give difference advice, but we just had our baby boy sleep with us, until he was about 8 months old (quite long, I know, and our bed is pretty small).

You really learn a lot about his patterns, movements, and you just feel him around. No need for monitors, setting things on/off, and no. We didn't suffocate him or squashed him. It was very natural to us (and him).

I can wholeheartedly recommend it to new parents, and I can honestly say I miss him around now that he sleeps in his own bed just next to ours.