I went back part-time which worked pretty well. I worked two days a week -- one day I taught music and one day I shared with a teaching partner. Here it's really common for teachers to work part-time and there are lots of classes with two teachers. I don't think I would have ever managed teaching full-time so it was great to have the part-time option.
I will say that I'm not as good of a teacher now as I was before my daughter was born. I wing it a lot more. I don't have the time to search out the best resources or spend planning great projects. Teachers here get moved around a lot, too, so I can't count on reusing anything. It hurts me to know that I could do a better job and I'm not doing it. I find that I can't be the kind of mother I want to be and the kind of teacher I want -- at least not at this stage with a toddler and one on the way (if you want another I have to warn that being pregnant, teaching part-time, and taking care of my toddler was the most exhausting marathon ever).
We have a year-long maternity leave here in Canada and I loved every. single. minute of it. My next baby is due in September and I might just take advantage of the extra year (or two) the the school district gives us unpaid after our regular maternity leave is up. With two in childcare I'll be making next to nothing anyway. Or I might not go back at all, though for a lot of the same reasons you have I hesitate with that decision.
I can't advise you, but I can sympathize. Even with a humane maternity leave policy I still struggle with this decision.
I will say that I'm not as good of a teacher now as I was before my daughter was born. I wing it a lot more. I don't have the time to search out the best resources or spend planning great projects. Teachers here get moved around a lot, too, so I can't count on reusing anything. It hurts me to know that I could do a better job and I'm not doing it. I find that I can't be the kind of mother I want to be and the kind of teacher I want -- at least not at this stage with a toddler and one on the way (if you want another I have to warn that being pregnant, teaching part-time, and taking care of my toddler was the most exhausting marathon ever).
We have a year-long maternity leave here in Canada and I loved every. single. minute of it. My next baby is due in September and I might just take advantage of the extra year (or two) the the school district gives us unpaid after our regular maternity leave is up. With two in childcare I'll be making next to nothing anyway. Or I might not go back at all, though for a lot of the same reasons you have I hesitate with that decision.
I can't advise you, but I can sympathize. Even with a humane maternity leave policy I still struggle with this decision.
We did have to cut back on a lot of "things" BUT I don't see my life anyother way.
(I taught high school in NJ--in a great district at that) And we are recent converts to unschooling. I just finished my Master's and I have to tell you that every class brought me closer to not going back. Seeing how our public policy and systems kind of work directly in contrast to the research was nauseating... especially when you consider the problems we are fraught with. I don't care if you're going to go against research... IF IT WORKS! 
But working in the paradox was frustrating... and cemented my decision to homeschool. So much so that we REALLY stretched the budget to afford life insurance for dh to allow me to be home even if something happens to him.
)
