I don't know what state you are in and you don't have to say if you don't want but if by chance you are in NY then I have to say, from a legal standpoint and the AWFUL divorce laws here, go for the separation.
My H and I have spent nearly 11K in attnys fees (well, he has, lol, I wont be paying a thing) and the court system here for a divorce, especially a contested one (which will happen if either attny files a RJI if an agreement isn't meant by the two parties within 20 days of the initial filing) is nothing short of your worst nightmare. I know because I have been wrapped up in this joke of a court system for 21 months. The BS - the continuances, the adjournments, the pre trial hearings... it is terrible and stressful and we don't have children.
In NY 90% of all divorces are initiated by a separation agreement as the grounds for divorce here are so nutty and hard to prove - the separation agreement lays the framework (assets and such) for the divorce and the Agreement serves as the grounds after one year. All Agreements state the couple is to maintain separate lives and can conduct themselves as not married (the legal language is fancier than that of course).
If you are in NY, for a purely legal standpoint, don't rule out separation. I wanted a legal separation and my H refused for almost 2 years and when the D proceedings really heated up and he saw I wasn't going to back down, well separated we are as of y'day and this started in March of 2008!. Our Agreement will last for 3 years which is what the D would have been anyhow as far as support and such.
