Body mass index (BMI) and the right weight for my height?

A friend and I were discussing this. We both try to stay healthy by eating well (high fiber, low fat, lots of veggies, fruit, etc.) and living an active enough lifestyle (hiking, rock climbing, biking, etc.) that we stay in shape. The question we have, then, is what the current "rules" are for appropriate weight/height ratios? Or are such measurements now thrown out in favor of body fat percentage measurements? She's 5'1" and I'm 6'1" and we're curious what the medical rule of thumb would be for how much each of us "should" weigh...mostly because we're wondering if it takes into account things like muscle mass. What would the current medical/health industry recommend each of us weigh? Are these numbers accepted or are they seen as not as important as they might have been 20 years ago. If you have actual numbers, we'd be curious to see that too. Thanks! I have a dinner riding on this!