Exactly, one monitor is an iMac the other is a thunderbolt display. The display just mirrors the iMac. We each have our own keyboard and mouse which controls a single cursor. The monitors face opposite each other so we are sitting (almost) directly face to face so talking to each other is natural with minimal turning, which would occur if you sat next to each other.

Interesting. I have a feeling this would drive me insane in the long run. Is there a particular problem you're attacking with this arrangement? Did you try a different approach before that didn't work so well?