We moved, be it only on a temporary basis, 2 years ago to Switzerland. I would say go for it - what have you really got to lose, especially while the kids are young ?
A couple of considerations to make are whether the income would really be sufficient to maintain you all. How adapatable is your 10 yr old, would he be able to hack being an outsider, losing touch with friends and the stresses of learning another language whilst trying to keep up with his peers academically. How good is your and the family's French, would it be possible to learn it as a foreigner in the area where you plan to live or would you have time to do so before you go.
For us the pace of life, as you say without the stress of commuting, enables us to spend more time together as a family which is especially nice for dh while our kids are so young (5 and almost 2). We are also more motivated to get out and about and see different places than we ever were in UK - it does n't need to cost a lot to do so.
hth