Let butter and peanut butter stand room temperature for about half hour. Cream together in mixer until smooth and blended. Gradually cream the sugar and brown sugar until mixture is blended, not grainy. Add the baking powder and baking soda to the mixer and blend. Add the egg and vanilla until all in nicely blended. Slowly add the flour until it becomes cookie dough. It should be stiff but not too stiff. If needed, cool dough in fridge for about 20 minutes to handle easier.
Use heart shape cookie cutter by scooping out enough dough and using a spoon to flatten. Then use the cookie cutter to shape. Best results would be to put the dough directly on ungreased cookie sheet and scrape away excess. You can always use the excess for rounded cookies. Using a fork, make your crisscross marks on each cookie. Bake for 9-12 minutes until just the edges are browning. Let cool completely.
Melt chocolate in a small bowl. Slightly cool. Take cooled cookies and dip just the tip of the heart in and place on wax paper to cool. Place completed cookies in fridge to harden. Serve with Vanilla Ice Cream!