This is pretty much what I live with, my husband is almost always away with work between Sun evening & Fri evening. Occasionally, he is away for weeks at a time if he's in India or Australia. We have two DDs, 4 & 2.
There's good & bad to it (as with everything). It can be hard to catch up on the phone due to time zones (that wouldn't be a problem for you!) but it can be difficult to communicate exactly what is going on or to get over the degree of excitement that your 4 year old feels about her new swimming badge if he's dashed out of a meeting to say goodnight by phone.
I notice the difference in his relationship with the DDs when he's frequently away for weeks at a time. They get used to it quite quickly providing you are confident & support 'Daddy' in front of them. However, the children become less close to him over time & this does need to be rebuilt each weekend.
On the other hand, it is more straight forward. I am no longer wondering what time he will come home tonight. I can book a babysitter for X hours without him turning up 20 mins later... We have our own little routine & when we're on our own, it works!
We have this compromise mostly for the money.
Just a thought, our family is 400 & 1200 miles away respectively so we have the same situation in that respect. Geographical closeness may give a greater support network but it may not! Best to check out what family would want to do in reality before sighing too much over the green grass on the other side of the fence, IYSWIM?
I have definitely come down on the side of 'if you need help, source it & pay for it', that way, you get the help you need, not what other people think you should have. ALL helpfully intended aid from our families has been less than great in practice!
Good luck with your decision