As a dad of one, this is my perspective;
1. Business travel isn't as glamorous as people make out, especially when you're doing it week in week out.
2. Your wife is being nice by saying she'll manage, she will struggle particularly during the night when all the baby wants to do is eat and play. Do you want to leave your wife struggling with a new born?
3. Do YOU want to be away from your baby? I got to see my daughter grow up and am thrilled I didn't get to miss much. If you want a relationship with your kid, you need to be there.
My 2c.