Question

For all of you writers (or readers) out there:

If you had a longish piece of fiction with two equally important main characters, how horrible would it be to use multiple points of view in different parts of the story if it is clear who's point of view is what?

Clear as mud, huh?

I'm asking this because as I've been thinking more about the story idea I mentioned several days ago, I've realized that each of the main characters brings a unique and important viewpoint to the plot, and certain parts would be best told from one POV or the other.

So, to the writers, would just the thought of doing that place this work in the unreadable drivel category? Would an editorial assistant see that in a prospectus letter and throw it immediately on the rejection pile?

To the readers, how much would such a device annoy you assuming the transitions are clear but not intrusive on the story?

And yes, that deep post is still coming. Maybe tomorrow. Depends on how I feel (still have a touch of the ickiness, but if history is any indicator, I'll be better tomorrow) and how much I have to do at work