Its like having two babies. I've not had any problems here and I had my dogs before my kids were born. I raised my current girl from 12 weeks old on up with two little ones around with no problems. it can be done and my dogs have never shown ANY kind of issues with the kids, even when they were babies. Its a matter of dedication to training and the time you have available for training. My kids and dogs are never left unsupervised but I honestly wouldn't doubt my kids and dogs ability to get along together.
That whole the dog will be jealous of the baby thing is bogus.
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Shasta GSD 5/5/10 CGC, ITD, TC
"Dax" Thor z vom Weberhaus CAX, CGC, ETD, HCT, RATI, RATN, TC 3/18/2013
Zena GSD 6/1/03
Riley GSD/BC 1/10/05-2/1/2013