I've been to Bandos 3 times, the most recent time being 3 1/2 years ago. I love it and plan to go back.
Its great as its only 20 mins maximum by boat from Male. The last thing you need after a long flight arriving in the early hours is a long transfer. It also has an excellent medical centre staffed by european doctors which I think is important if you have young children.
What sort of accommodation are you looking at at Bandos?
Standard is not great, very basic and no bath, just a shower so in my opinion a no no when you have kids. Stayed standard the first time and never again. Second time went deluxe which was good as there was a larger bathroom with bath and a sitting room area where they put a spare bed for DD and can fit a cot for your baby too.
The last time we went we pushed the boat out and stayed in one of the two watervillas (having been upgraded for our last 3 nights to one the previous trip) It was fabulous but a bit worrying if you have little ones and I think they don't normally let you book those.
In between are garden villas and jacuzzi beach villas which again I don't think are suitable with little ones They have the lounge and open air jacuzzi downstairs and open steps up to bedroom.
Buffet breakfast is good and half-board involves buffet dinner but we just went for B & B as the evening buffet was very late, think around 7pm which is no good when you have kids. There are three restaurants you can use. A posh 'fine dining' one, a coffee shop/cafe which is open 24 hours (handy when you have kids) and a lovely restaurant down overlooking the beach.
There is a small shop but I'd say take all the nappies, wipes and baby/toddler food/snacks you might want as supply very limited.
There is a free kids club which is open (I think) 8am to 5pm and you can get babysitters in the evening. They take kids from about 8 months which is great as most places its from age 3 or 4.
If you or your DH like diving, the house reef is fabulous, one of the best I've ever dived.