I have a childminder & she is wonderful, I trust her 100%, sonny loves her to bits, she is the mum I don't have time to be. :) I work full time from home & am the main earner so can't afford to work part time or give up. So to have someone so dedicated to my son who adores him & who he loves is such a releif.
She has a couple of other kids but only Sonnt all day, the others are at pre school or older so pick ups are anytime after 12pm which means he gets a lot of 1-2-1 attention, for her it isn't a money making scheme other wise she would charge more than 4 pounds an hour & take on more kids. She is very choosy about what children she takes on & when. She recently lost one of the older kids to full time school & is holding off replacing the slot as she misses her too much to think about getting a new one yet. Thats the kind of cm you need to look for.
I personally didn't think nursery would suit my son as I find them too impersonal, they may be nice to the kids & watch over them but thats cause they have to by law
& the staff may be kind but ultimately they are a business first & the carers are restricted by company policy. A cm tends to be more mum style, for example, if Sonny is asleep at 3.30pm, his cm will call me to say not to bother picking him up at 4 as it's not fair to wake him & she will call when he does. Even though she only gets paid till 4pm she has never accepted extra money. So don't knock cm's, they are cheaper usually than nursery (esp if you have 2, most do a 2nd child discount) & you get a much more flexible, personal arrangement too, if you find a good one. 
Good luck with it.
[Modified by: Beebee on September 09, 2008 06:37 AM]