I lasted 2 nights hun and I dont think im a bad mummy! Im a light sleeper too and just found I couldnt sleep at all for all her little noises. Her room is close to ours and I dont even use a monitor - if we move I will though.
We just went away for 3 nights and she slept in our room and I didnt sleep all weekend. Having come home both she and I are sleeping better in our own beds! Its a personal choice hun and might take a few nights to get used to it - you could always try it say for a week and if it doesnt work - go back to having her in your room. Good luck!!