This is looking like a similar option for us, I'm doing pretty hefty hours between startup & fulltime employment at the moment (although we are profitable). So just need to get the timing right, but definitely looking forward to more flexibility with schedules.
I quit my job when my son was seven months old, took a month off, then went back to work three days a week. I'm a stay at home dad the other two.
Eight months later, this seems very, very easily to have been the best decision I've ever made.