Re: Indentation style: public/private/protected/case

I'm un-indenting the constructs mentioned in the subject line to align
with the enclosing braces:

switch (expression)
{
case 1:
  statement1;
case 2;
  statement2;
default:
  defaultstatement;
|

class Class
{
public:
  declaration1;
private:
  declaration2;
};

I'm finding myself in an edit war with a coworker. (A result of default
editor settings, not a philosophical conflict.) His style is set to
indent the colon-terminated keywords, and then indent the controlled
statements/declarations an additional level.

class Class
{
  public:
     declaration1;
  private:
     declaration2;
};

Is there value in the double-indenting style? I find it squeezes out yet
more precious horizontal space without making the code significantly more
readable. Do others find it more readable? What's common practice here?

I just want to establish consistency so that our change control system
doesn't show the whole file changed everytime one of us checks a file in
with different indenting.