IMO, as the parent of an infant and a toddler, I think red eyes are probably better because they are normal sleep times. I recently took my family from DTW to SAN for a vacation. I took a day time flight out (which you have to) and the kids slept for an hour on the first leg, and then were very awake on the second, and it was hard to keep them quiet and in one place.

On the red eye on the way back, right after take off, both of them slept all the way from SAN-ATL.

Given the options, as a parent I would rather take them on a red-eye, and as a passenger, I would rather other parents take them on a red-eye.