For the foreseeable future M is going to be staying home with baby boy. For awhile she wanted to go back to work, in August, but I felt that it was just too soon to be sending our boy off to spend 8 hours with someone that we might not know and might not share the same views as us on parenting. Having said that I don't really have a clear picture of what a working mom is like, but I can tell you that a stay at home mom is a working mom and M is doing a fantastic job. Our boy couldn't have anyone better.
If you and your spouse decide to nurse (breast feed) guys you will be lucky as you will not be involved in the feeding process much anymore (there will be the occasional hot chocolate calls and help when your not going to work the next morning). For the mother of the house not so lucky. This is a full time job and maybe more. Don't fool yourself into thinking it is anything else. Every 2.5 hours to 3 hours your child will need to be fed. As for a working mom I can only imagine trying to pump enough milk for that period of time that you are at work. For those that decide formula is the way to go, when then life gets a bit easier, but there's still the whole preparation. M told me that she had read how much it costs for formula and if memory serves me correctly, it's on the $3,000 to $5,000 dollar range. Yikes!
For some people it might not be possible to have a parent stay at home, but if it is possible I'd recommend putting your ego aside and having someone stay at home. I believe that the benefits outweigh the other side of the equation. M will probably go back to work in a few years, but we'll see. Perhaps she'll stay home until BB is school age, but I know right now I'm glad with the decision. M might not agree with me depending on how she's feeling (tired most of the time) but in the long run I think she'll be glad that she did.