To Have Or Not Have A DJ

My fiance and I keep going back and forth between wanting a DJ and wanting to do the music for ourselves. He has an iPod and we have CDs, so conceivably we could do the music ourselves, but it seems like a DJ would help the reception to flow more easily. Which do you recommend? If you`ve had a wedding reception where you did your own music, how did it work out for you? Can you give any advice on not having a DJ?