I took 10mg of paxil daily from the time my son was about 6mo until he was about 18 mo, weaning to 5mg then stopping altogether. This was monitored by both my doctor and therapist. I suffered from PPD and paxil made all the difference in the world and I was able to cope again with normal, daily activities. At the end of the 18 months, I was feeling mostly like myself again. The one side efffect I noticed was weight gain in me. It wasn't as extreme as some people experience; I had about a 10lb weight gain. It's been hard to lose, but I don't know if that's because of the paxil or just being busy from life.
I didn't notice any effects in my son. He is a bright, clever, sassy and funny 2.5 yo now. We nursed until 3 weeks ago.
For me, based on discussions with my doctor, therapist, others who've been on paxil and my own research, I felt the risk to my baby was very low. I felt that the risk to him if I didn't take it was much greater.