Another go for it vote. There will never be a perfect time with kids. My kids are in elementary school and it can be more work getting them out in the morning than when they were infants and I could dress them, feed, them and have them out the door in 40 minutes. Plus you have activities, homework, and the extra time it takes to help them become more independent and not do everything for them (pack lunches, lay out clothes, clean room etc)
I regret not going for the manager job when there were opportunities. At some point you may wake up and realize you could do that job, make more money, and have more control over resources, maybe figure ways things can be done more efficiently and instead you chickened out and ended up doing the same amount of work or more (especially if you don't work for a great manager).