So now that I consider this my home board, I need some input.
I have two toddlers. They're totally awesome. And portable, to boot. I can go out anywhere with them, they're well behaved in public (just not always in private) and I like the fact that they are old enough that we can go out for hours during the day.
My husband and I always knew we'd have more than two children. My problems are:
1) I'm in college and plan to return to work when the kids go to school. It will take me probably three to four more years (finishing + grad degree). I do not want to wait long between graduation and job hunting. A year or something is fine, I can find something in the volunteer world part-time.
2) I am afraid I will never be able to go anywhere again. I mean, how much can I do with a baby, a toddler, and a preschooler? Can I even go to Target? What about playgrounds?
3) I do not want my girls to be significantly older than the third baby because I feel like there will already be a divide (the girls are just over a year apart).
Financially and emotionally and whatever, we're ready for a baby or ready to wait. Those aren't factors. It's really just what is the smartest situation.
So, anyone who has three (or more!) kids, let me know how hard/easy it is. I thought two under two was no big deal, but for some reason, three under four sounds scary. I'm a stay at home mom if that plays any role in how difficult this might be.

Re: Going from 2 to 3
Well...we only have 2 but I'm gonna answer anyway! HA!
I thought I always wanted 3 and still do somedays but...My situation is a little different b/c my oldest is almost 7 and my youngest just turned 4...For me, they were the perfect difference in age for me to handle on my own...While somedays I do still want another baby (and if it happened, I would be over the moon...) but we are more then likely done. It's at the point where we can do whatever we want, go wherever we want, easily. I work part time right now and my job is AMAZINGLY flexible so I can leave to pick my oldest up at school, it's okay if my kids are sick or we have school events and I can't come in...I do plan on going back to work full time when both girls are in school full time. (My youngest is in preschool 3 mornings a week right now, will be 5 days next year, but kindergarten in our town is still currently half day so I have a few more years...)
My friend has 3, ages 2, 4, and 6 and they do pretty well...Their youngest is a handful (in the sweetest way possible) so there are def. still something they can't do with her and I know she deals with guilt that there are sometimes things they miss out on on both sides...things the bugger kids miss out on and she has guilt when there are things the littlest has to miss, but they will more then likely be out of that stage soon enough.
Ha! Did I ramble or did that help at all?! Good luck! I think if it's not a money issue and you can still get school done with an infant, I'd go for it!
We have a few Mamas in here with 3 or more under the age of 5. Hopefully they see this and answer.
I have 3, but my oldest is 16. Having 3 was a cinch for me because Ty was old enough to help us at home, and when we go out.
It really all depends on what you think YOU'RE capable of. Personally, I couldn't do it. I have a hard enough time with 2 little ones, at home and in public. And they're good kids, also well behaved. They try my patience, sure, but overall, they're great. I just don't have the mental capacity for it. I don't like being frazzled (well, who does?) and I don't like chaos. In fact, if anything, I try the hardest I can to NOT go out shopping with them. Even the park can be tough. Especially when they go running off in 2 directions.