I find you don't often take my advice (I wouldn't be surprised if you've never taken my advice
) ... but here it is anyway.
I don't have any children, but I do understand the time issues involved because my brother- and sister-in-law have two young children. I also have a very busy life - I work full time, I teach part-time, and I'm on three volunteer boards - so I know all about time poverty.
Sometimes significant amounts of time go by when I do little or no photography. 2008 was such a year. I did not shoot many images at all - nowhere nearly as many as I would have liked.
You could argue that having as much gear as I have is a waste, but I know I would regret selling it. Photography comes and goes in waves with me. I do it when I am into it, and when time lets me. Some months and years are more productive than others. However, I always get back to it, and the gear always gets used. It's just a question of when.
I know you have a Kiev (unless you've recently sold it). That would be a great camera for taking pictures of your child. It's small and compact, it has a fast lens, and you can shoot like mad at quite a low cost. There will be days and times when you can shoot 4x5. Frankly, I suspect that occasionally you will savour such days because being a parent is incredibly stressful and a lot of work at times. You'll need a break, and an afternoon of 4x5 might be perfect.
As for doing alternative processes, I imagine it will be awhile before you will have the time and situation to do it, but put it in your back pocket and do it when you can. These technologies aren't getting any more obsolete. Do what processes fit your available time and interest now. If that's C-41 processed at the grocery store, so be it.
I recommend that you take three or six months and be sure you want to sell before you actually do. Consider it a cooling-off period. The gear we buy isn't really depreciating anymore; you'll get just as much for it then as now. (Actually you might get more; the economy is expected to be much stronger toward the end of 2009.)
I expect you not to follow any of this. But there it is.