You can do it!
I used disposable for my first two, and switched DD to cloth halfway through. DS has been exclusively CDed. Switching DD was fun and a lot easier than I expected.
With cloth, there is absolutely no reason anyone should have to deal with leaking. Leaks are rare, but if you were to have them, you just fine tune your diapers to customize to your child and resolve the issue. There's tons of advice on the diapering board. I've not had any problems with leaks, ever.
You don't have to do laundry all the time. I do mine every night just because I like to have a daily routine that's consistent. Wash the dipes before going to bed, hang them on the line first thing in the morning. I would say you could probably stretch your laundry out to twice a week, but likely would not want to go much longer than that.
Like Rach said, you will find that CDs help you to be better about all the laundry in the house. It's impossible to discover a load of mildewed, forgotton towels in your washer (am I the only one who's ever done that?
) when you've got diapers that you routinely wash.
I have strong feelings about CDing from an environmental, sustainable point of view, but even if sposies weren't harmful, I still much prefer CDs to them.
I did write a couple of ebay guides - one on sustainable diapering, and one on wool covers, which you are welcome to read if you've got some time. Links in my siggy.