To me, splitting the bill only seems to work when it's 6 or more people. Otherwise, it comes down to one or two people carrying a much larger burden than they should. When my friends and I go out (which is very rare anymore), we agree to split the bill, but we also agree not to go crazy unless everyone agrees on it. So a more expensive platter we'd all agree on before ordering.
Still, if I agree to split the bill, I always make sure to have some of the nicer, more expensive stuff my friends are having anyway, if only to balance out what I'll be paying. It generally works out. After all, we're supposed to be having fun together.