Checknin, I don't believe anyone can answer your questions but you. So many variables are involved. What we can do is give you our experiences and you'll have to judge for yourself.
Quality of life is a relative term. One pilot would never live here (Memphis) and another would and both have fantastic quality of life based on extracurricular activities etc. Much of your QOL will depend on whether your wife is happy; does she want to be near her family or not, is she independant or not etc.
Personally I've got about 20 years at Fedex and I can't remember one event of my kid's that I have not been able to schedule around and be there for. Obviously this means alot to me, it may not to another. Also as the kids get older their need for me to be in their face so much dwindles. Seniority in any seat is the key. Here at The Fed you can be senior in the back seat of the 27 in no time and controling your schedule. The key is to live within your means and not be forced to upgrade just to chase dollars that you may have already spent. Then you've become a slave and I can assure you you will not have QOL.
I could go on and on, but the bottom line is that for QOL you need to be gainfully employed and right now the brightest horizon is The Fed or Big Brown. The rest is manageable.
Good luck on your decisions.