I wouldn't be without a dog. Make sure when you get it that you can commit to walking it every day - if the children do then bonus, if not its always going to fall to you!
Someone once said of dogs that you give them what time you can spare, what food you can spare, and what space you can spare, and in return they give you their everything. It's the best deal mans ever made.
Breed wise, I can only really advise on the ones I've had experience with:
King Charles Cavalier Spaniel: lap dog. Barked when people came to the door but wouldn't have scared a cat away. Didn't need much exercise relative to the other dogs. Sheds hairs - hoover needed! Fussy eater, recall not the best, great with other dogs and children. Not easily trained. Eventually suffered from heart problems. Recommended if you have a small house and you want something cute.
German Shepherd: great family dog, and good guard dog. Barked when people came to the door, sounded terrifying but would turn into an excited puppy if they opened it. Easily trained for most things, but heel work took perseverance. A large dog that takes up a lot of room in the house, and sheds hairs - Hoover needed! Needs plenty of exercise when young, but they do start to slow down a bit when they pass middle age. Recommended if you have a large house, like the guard dog factor, and can commit to spending time training the dog.
Staffordshire Bull Terrier: great family dog - one of the only breeds recommended by the Kennel Club with young children. Suffers from an atrocious reputation thanks to being a cheap, easily obtained 'status type' dog for irresponsible owners. Ours is the most easily trainable dog I've ever had, both for common discipline (I.e. heel work) and party tricks (staffy can hunt out and find the drug scented cloth better than the ex drugs dog springer sometimes!). When I met my wife, my staffy was 3 and great with people, but dog aggressive which is a common trait. It didn't take me long to help him, and he's no longer dog aggressive and is left off the lead around other dogs - they get little interaction other than a sniff though. When young need a lot of exercise, they slow down around six years old or so, and tend to 'plod along' with you for as far as you want. Can be a good guard dog, but ours won't even bark. Short hated so doesn't shed as much. Doesn't get dirty - the short hair 'self cleans' by the time the walk is finished! Recommended for pretty much anyone.
Springer Spaniel: great family dog. There are two sorts - working and show. Mine is a working, which means he's basically a bit stronger and more energetic. Outside, they live up to their reputation of hyperactive, yampy happy go lucky dogs. Inside the house, he's the calmest dog I've owned! Needs a lot of exercise, but due to their energy levels will exercise themselves a lot when out, if you can leave them off the lead. I walk mine with my much older and slower nine year old staffy, and the Springer covers about ten times the distance we do! You NEED to get recall nailed ASAP, as it's in their nature to flush and chase small creatures, and it's not uncommon for an untrained Springer to run from its owner chasing these for miles. Expect them to get filthy every walk. Mine was naturally perfect with other dogs, very balanced behaviour. Doesn't shed a lot of hair surprisingly - but due to this gets cut at the dog groomers 2-3 times a year. Recommended for anyone who has enough commitment to train (can't stress how important nailing that recall is).
Caveat: the above were traits of my dogs, not definite traits of the breed, but hopefully it's a guide!