I think, honestly, it depends on you and the story. That's not the most helpful answer, but it's the most accurate. Try telling the story from the different perspectives and see what 1) you like best 2) what moves the story best 3) and what the story tells about the characters. Like how do the different perspectives portray the story? Every human being sees the world differently, so how about your charries?
I'm constantly trying to do stories in differing perspectives. I love single perspective, because it's so focused on the movement of the story. I love having more than one because it delves more deeply into characters and subplots, showing you and your readers things you never would see if you just told one side of the tale.
Currently, I'm working on a sci-fi novel told from various perspectives. It started out as a double author project, while I was writing it with a friend and it made sense to have each of us tell the story from our own character so that each character had a flavor and a viewpoint on the tale, instead of a single narrative that conflicted in style and thought because it was coming from two different writers. I've kept that idea, even though now I'm working on the project on my own, because I want to tell the different stories, and I love what we put into the characters, but I'm having a hard time deciding just whose story to tell. Totally a can of worms I opened without thinking it through first. XD
And yes, pacing two different stories while they intersect is hard. Really hard, as I've found out recently. My story starts off slow, and there's really no mention of the villain, so I had to add an alternate beginning unless/until I can figure out how to fix that. Most of the story happens at the same time for the different characters, but they're not directly in synch. If you figure out a way to make it flow well, let me know.

I would definitely split different POVs into chapters or sections. You've got the right idea there. My style right now is to start each chapter like this:
Quote:
Chapter Number/Title
POV's name
So this is what the Point of View character does in this chapter, and this is the story told here.
It just keeps things neat, and there's no headhopping.
On the other side of things, I'm considering a suspense story told in four books, but where the story overlaps. Each book is from a character's perspective about things that are happening to all of them, but occasionally branching out to things that only happen to the one who is telling the story. I'm thinking the story starts in the first book and moves to a certain point, and when the next book picks it up, we might have gone back in time a little, but by the end, we've furthered the story--and so on. (It sounds confusing, and it really is, and I'm undecided as to whether it's the best way to tell the story. *shrug*)
On a related subject: I have an idea to write a story as a collection of short stories, told from whatever character I want to use in that moment. So it's like different perspectives in different chapters, but not limited to the main characters at any one time. There will be main characters, yes. They're the ones who drive the story forward, but the people around them get to tell their side, too. Mostly, I've been writing like this as an exercise for when I'm stuck in a story. (I'm calling it "leapfrog theory" right now...) I'll go write about something maybe the characters hear about but doesn't actually happen to them. I'll tell that bit as it happens. It doesn't make it into the novel, but it helps me get unstuck.