I adopted a 20 month old child through the foster care system. Yes, there are many children with problems, but there are so many that are doing okay and really just need a home. Yes, the foster/adoption route can be scary and heartbreaking, but it's worthwhile. I say this after having a child removed right before the parental rights were terminated (relatives came foward very late in the game). But the second attempt brought me my daughter and she's amazing. She has some problems sometimes, but nothing dramatically different than many of her peers.
The social worker who did my home study told me that if a child bonds with the same caregiver for 12 consecutive months ANY time during their first 5 years, they can create attachments throughout their lives.
Adoption of young children from foster care is quite possible and doesn't necessarily take a long time. I know a couple that have adopted three babies from foster care. The first one took a while, but the next two happened within a few months of having notified the County they were looking to adopt again.
The Adoption Exchange gives monthly informational sessions free. They go over all the different options for adopting.
Good luck and God bless you!