After my wife and I upgraded our devices to iOS 8, I turned on a family sharing account so we could use those features.
It's on, and shows up on both of our phones as being part of a family. I also see the shared reminders and calendar. Also, her devices show up in my Find my iPhone.
What doesn't show up is purchases. If I go to iTunes or to the App Store, under purchased, I do not see her, nor any area for family purchases. It looks as it always has.
We have two totally separate iTunes accounts, always have.
Also, as a note - I have gone through everything on Apple's support page (http://support.apple.com/kb/TS5449) and no changes. Basically, it notes to make sure you are logged into the right accounts, everyone is set up to share, and the apps support it.