One Apple ID two Iphones. Can I create 2 icloud ID's to manage content?

Question

I have a Mac that runs Snow Leopard
iTunes is updated
2 iphones
1 iPad
1 Apple ID
After the iso5 update our contacts have merged on the 2 phones.  Trying to find a solution so both iPhone users can manage separate content in iCloud under 1 Apple ID.
Help!

Answer 1

I have this same problem as well.  My endgoal would be for both ip4 users to share 1 itunes id and have two separate icloud accounts so that purchased content can be shared with your family member yet your contacts and calenders dont merge.
At this point, I know of two solutions that arent of my preference. 
Creating two separate @me addresses through the new ios 5 update during the icloud setup.  The problem is that most people just enter the email address associated with their apple id on both phones before they realize that something is wrong.  After updating both iphones we now have merged information.
To undo this has been problematic.  The only true solution for this circumstance has been to disable the cloud for 1 of the users in their icloud settings.
Ideally, you would delete your icloud account on one of the ip4's and redo the setup utilizing a different @me.com address than the other user.  This however, is not possible.  I deleted the icloud account on my iphone hoping that this would allow me to re-enter the information.  However, when setting up the icloud again on the ip4, the previously used email address is already entered with no option for edit. Addionally you are never prompted for creating a new mobileme email account. Thus still sharing information with the other user.