Our personal situation is two boys, ages four and a half and two and a half, although I imagine answers to this question could be generalized.
Bedtime in our home is usually between 6:30 - 8:00, and often takes that entire time period. When we are going according to schedule, bedtime consists of reading several books, getting into pajamas, brushing teeth, and then reading more books.
Our challenge is, that often at around this point it is time for Mr. Dad to go, as he has evening obligations. This leaves Mrs. Mom with 2 children to put to sleep on her own. The biggest issue is figuring out what to do with one child while the other is being put to sleep, such that the other child does not prevent the first from going to sleep. They just recently moved into the same bedroom, in preparation for a new sibling (who we assumed would start off in his/her own room, although that is also negotiable if it would be the best solution to our bedtime dilemma). We do not have any strong feelings about which one should go to bed first - whatever works best is good with us. Putting them to bed together is also fine, if anyone has a magic way to make that work.
So basically, I am asking for strategies to manage bedtime for one parent putting two children, who will talk to each other and play together, to sleep. One important point - we do not own a television and are not interested in gluing either child to a video in order to occupy them during bedtime.