We generate a pair of entangled beams from the interference of two amplitude squeezed beams. The entanglement is quantified in terms of EPR-paradox [Reid88] and inseparability [Duan00] criteria, with observed results of $Delta^{2} X_{x|y}^{+} Delta^{2} X_{x|y}^{-} = 0.58 pm 0.02$ and $sqrt{Delta^{2} X_{x pm y}^{+} Delta^{2} X_{x pm y}^{-}} = 0.44 pm 0.01$, respectively. Both results clearly beat the standard quantum limit of unity. We experimentally analyze the effect of decoherence on each criterion and demonstrate qualitative differences. We also characterize the number of required and excess photons present in the entangled beams and provide contour plots of the efficacy of quantum information protocols in terms of these variables.
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