Congrats Ed! From a dad of two, it is a real life changer! Let it happen. You won't regret it. Although, you probably won't give a "cr**" about if you use a 40D or a MIII. [That's a good things...you'll see].
Some want to be great photographers with the best equipment. Me? I work and spend money on being a dad first. Last year's cameras are fine. This year's family is better.