Yes, it's okay to store the per-user salt in the same table which stores the password hash (not the password itself) - even if the adversary gets access to the raw database data, he'd still need to try each user's salt+password separately; storing the salt in another table is not really adding any significant security (if you assume the adversary has access to the database, it doesn't make much sense to me to assume he only has access to one part of it).
If you're using salt+peanuts+password to create the password hash, then I'd say that your design is safer than 80% of the systems out there - which is to say, reasonably safe without going overboard with paranoia.
Note however, that if you're actually storing the password in recoverable form (encrypted or plaintext), you're throwing any security out of the window - the whole point of salts and hashing is that you are not storing the password in recoverable form. If you do store the password, that is the weakest link of your system, which is then completely insecure. To make things clear: the user table should only contain the salt and hash of salt+peanuts+password, never the password itself.