My son is almost 8 weeks old. We are planning on moving him into his own room this weekend. I don't think its paranoia that he's still breathing, but I can completely understand where you're coming from with that. But with us, its just that every movement and noise is waking us up, and making us wonder if its time to wake up to feed, almost preparing ourselves to get up, but then not having to, etc... which is just making us have an even more interupted sleep.
He is in a rocking cradle next to our bed at the min. We will take it off its hinges and place it in his cot for the first few days, maybe week depending on how it goes, and then just take that away leaving him in his cot.
I'm looking forward to having our bedroom back as just our bedroom.
Its nice that some people have their children in with them for longer, if that works for them, but what works for some, doesn't work for others.
Take everyones advice, but then just do what you feel is right for you.
Good luck!