Letters to the Editor
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great
As you probably know, many 2nd generation immigrant kids in the States (in my case Korean) grew up with a lot of aunts and uncles always barging in and out. I've seen life both with and without extended family--My nuclear family mostly lived away from our relatives; and I'd pick extended family life every time. Sure, (at least in immigrant families) the kids have to deal with the "why aren't you married yet?" questions from age 25 and other smotherings, but it is a small price to pay.
What you are considering is wonderful for the kids (and for yourself also). And it's best to catch them early...
Sure, I suppose that doting on the kids can be a crutch or excuse for not developing your own life; but so can work, American Idol, collecting post-modern art.
By the way, these aren't "someone else's kids" but rather they are your nieces/nephews. I think people who come from extended families understand what I mean.