I waited almost a year into my current relationship to go "all the way". Which was a pretty incredible feat for the heathen teenagers my partner and I were back then. I'm glad now I waited that long, it made things interesting. But we went and did it, and I have no regrets. We were each others' firsts. If we waited until marriage, I'd still be a virgin over a decade into this relationship!
We haven't married, we don't really feel a need for it.
I know some reasons why some people wait until marriage. It's a personal decision, and I can't really judge someone for not doing something that could complicate their life. But I think a couple who waits could end up marrying incompatible people. I think it is good to get to know a person well before marrying them, and that includes physically. Of course, talking a lot about tastes and such is one way to benefit the situation if one was certain abstinence before marriage was the way to go. A lot of couples don't seem to talk enough before settling down. I've known people who were surprised or horrified by their spouse's beliefs related to sexuality.
I won't be having kids, but if I did, I would encourage them to get to know a person very, very well before they considered getting intimate. But sexual matters are a very personal thing in my family and I wouldn't push too much on my kids.
I think that virginity is something to value, but I think we have in our history put too much value on it. There have been a lot of problems because of this.