A.,
I had two kids who were in daycare after age 2 (before that my mother watched them but when she got sick it was too much for her to handle them all day). I am now home with #3 and #4. For us the decision was pretty much made for us. I got laid off (position was eliminated really, though I always had stellar reviews so I know it wasn't performance related - aside from another 100+ people also losing their jobs) and then it became quite clear when I got pregnant with #4 that there was no way I could make enough money to put 4 kids into daycare. If my salary covered daycare/after school care, that would be one thing, but it wouldn't come close to being cost effective for us.
I am still adjusting to the mental aspect of not contributing financially - that is hard for me... i've never been 'dependant' on anybody before, so this was a difficult transition. Secondly, I think that there are benefits to both the SAHM world and the working mother world. If you, yourself feel a need to be closer to your daughter, and can swing it financially... do it. I don't think either mother is more or less better because they are home...or not.
If you take yourself out of the workplace for a year, or three, I would not believe this will put a damper on your chances for getting a job later when you are ready. If you are out of the workplace for 10.... you might want to work doubly hard to ensure you can compete with those who've had no interruption in work experience (maybe taking a couple refresher courses at a community college or seeing a headhunter to ensure your skills are still marketable).
Ultimately, the decision can't be made for you... if you are feeling that much desire to be home with your little girl (and it's TOTALLY understandable why you do) then try to make sure you maintain social interactions with a mommies group, or swim lessons or other activities (some really good ones offered at the park districts now) If that's a concern.
Gas prices are absolutely horrible - 60$ in my minivan didn't even fill the tank... with 4 kids, and 2 adults I can't drive anything smaller...
I love being home with my babies... i love being home when my older 2 kids get home from school... and the only part I miss about working, is the interaction that I had with other adults.... without interruption :) But looking back, I also don't have any regrets about my older 2 being in daycare either. Whatever you choose, don't have regrets or you'll all be unhappy...