How you celebrate your holiday rituals and traditions should flow naturally from how you are raising your children. The everyday importance of and practice of your respective faiths and cultural traditions should determine the extent and nature of your religious and/or secular holiday celebrations.
Your holiday celebrations will be unique to your family as you both include your favorite childhood holiday traditions in your celebrations. You have an opportunity to teach your children sensitivity and respect for your and others' religions and cultures as you explain the meaning of your own traditions.
I understand why some people argue that only one parent's religion and culture should be celebrated during these holiday seasons - a child must have a clear understanding of who she is. I believe, however, that parents who choose to share their respective religious and cultural holiday traditions with their children do indeed give them a solid identity, one based in the cherished family values and traditions of their parents.