Code reviewing

We are working with 8 people on the sytem now. Six of them do application development and we have reached a point where we have to consider implementing some quality control tools. One of them is code reviewing. We started with this recently. We have found it too much to start doing it systematically, for the moment. So we do not have every bit of code reviewed. We will take a piece of code every month and one of us, not the developer, will write e review and present this to the rest of us. We spend a morning discussing the review. This will lead to agreements on coding standards and one of us will document this in our wiki.
So far we have had only one review. The discussions at the moment are very much about very basic standards we have never explicitly formulated. I suppose that later on we will discuss more local practices. I think we have found an excellent way to create acceptable standards. Everybody is excited about it.