...The kid's having a full time Mom is enough for me...
The same thing happened to me about 5 years ago. I had a former "mentor" call me and offer me a job 3 hours from home and everything I knew (including my little crap town). Unbelievable opportunity with great pay... The wife had just had our first miscarriage and she had just found out that her company was closing up shop. We always wanted for her to stay home but we couldn't afford then but with the new position it would be no problem. We made the leap. She is home with our (now 3) kids and (God willing) will stay home till they are in high school. The distance has actually be a blessing for most of the time. It makes the visits more meaningful... not just another day. I'm not going to say that I don't miss the farm and the crap town and being able to help the ol' man out whenever he needs it but in that same crap town I would never make enough money for my wife to stay home.
In short: GO FOR IT!