AFI11-401 Aviation Management:

3.3.3.2. Two instructors (to include FTU) of the same specialty may fly together and each log instructor time; however, total instructor time logged may not exceed total flight time logged. (e.g., A new FTU instructor is flying with a student crew and a more experienced FTU instructor flies with the new FTU instructor; instruction can occur between the new FTU instructor and student or between the experienced FTU instructor and new instructor, but not both simultaneously. Therefore, the total instructor time logged may not exceed total flight time.).

So...when we fly a 2.0 CT w/ another IP, we split the time

Me: IP 1.0 Pri 1.0
Them: IP 1.0 Pri 1.0

3.3.3.4. Instructors will log primary, secondary, or other time, depending on their activity, when not performing instructor duties.

3.3.1.2. For pilots, primary time is time actively controlling the aircraft, excluding hands-on-time flown while instructing and evaluating (log such time under instructor or evaluator). It is not predicated on which set of controls is being used (multi-place aircraft), or on the duty position indicated on the flight authorization. Pilots receiving instruction while controlling the aircraft will log primary time.

We conform to this paragraph, because we offer instruction to the other pilot, while they are flying. It does not require that the other crewmember be a student or upgrading pilot to log Pri time.

For the example above, if I signed for that aircraft, I'm going to log 1.0 IP and 2.0 PIC in my books!

These are the regs....I don't make this stuff up! My SARMS are all extremely experienced civilians. I brought up the topic to them today, and they pointed these paragraphs out.