We subscribe to the classic blue/pink job breakdown. She stays at home with our kid (and will be for the next few years at least, as she left her job before kid #1), and takes care of all the dishes/laundry/cleaning. She does over half the cooking, but I usally help out with dinner in some way or another. I do all the yard work, etc, and any DIY maintenance stuff around the house.
We both come from families that had stay at home moms growing up, and the moms did all the daily housework while dads worked their sacks off (not to imply that homemaking isn't a lot of work, because it can be), and we're happy living our life the same way.