Partition drive or separate user accounts?

hey everyone-quick question. wife , moving 1 shared macbook pro instead of each having 1 (due ipad). each able log in our own profiles. should create new user or partition drive?

have separate software, iphoto, , itunes libraries. differences between 2 routes (other reboot)?

 

iphoto , itunes separate each user 2 users should fine

 

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