What to do with the placenta?

Had my first visit from the midwife last week and she gave me some information about birth centres/giving birth in NZ. Included is a 'birth plan' worksheet which goes through all the various parts of pregnancy/labour/birth/post birth and all the various things that I can choose from. One of these includes what I want to do with the placenta, after the birth including - seeing it, or keeping it.

Now I know that in some cultures it is normal to keep the placenta (including Maori culture). But what I wasn't aware of is the options for what people actually do with it. Just by coincidence I ended up in a conversation with a couple of women the other day - one who has planted the placenta from each child under individual fruit trees; the other made them into capsules (through a process of steaming it, cutting it into thin slices, drying in the oven, then crushing into a powder and putting into capsules) to take just like a vitamin. Apparently it has a whole lot of hormones in it which are good for you (especially when you are going through menopause). They also told me about some mothers who just cook it up and eat it like a piece of meat.

My experience/involvement with my placentas in the past is: with Ben, they showed it to me to show that it was intact - it was kind of cool to see, looked like a dark red pancake. With Joanna, I don't recall seeing it or anything. I haven't decided what I'll do this time round, it's not really a big issue to me. I am interested to know what other experiences/choices people have had with their placentas. So what have you done with yours?