Regardless of what common sense told us, we had put off baby proofing (and even denied that it had to happen) for a long time. A few bruises and a couple occasions of blood coming from somewhere (in some cases, never to be determined), we have the baby gates in place and padding around the edge of the coffee table. Cole has now officially taken over the house, if the toys hadn't before.
I suppose its all in good measure. Cole and dad had oh so much fun installing the gate at the top of the steps. Cole seems to really like his dad's cordless drill! The brackets to attach to the wall were pretty interesting material too, heck any ole' plastic is worthy of chewing on!