Looking for input on preschool vs. in-home daycare...

from either personal experience or developmental knowledge.

Here's our situation, I work 3 days a week and Alice spends 2 of those days at a small daycare that's sort of a cross between in-home and a center. It's in a home but completely separate from their living area, she has assistants there depending on the number of kids there that day. Alice has been there since she was 3 months old and we've been very happy for a variety of reasons--having a consistent caregiver who is obviously engaged and attached to her and having her with a mixed age group (more like a home environment) are the two main reasons.

But now that she's getting older (3 in March!) I'm considering moving her to a pre-school starting in the fall. We have a spot for her at a school I'm very impressed with that has come highly recommended. It's very play-centred with tons of opportunities for art projects, pretend play, taking care of animals, music time, lots of outdoor time year-round, etc. She would be able to go all-day, 3 days a week. Downside is that it's farther away and would mean completely rethinking our commuting plan 2 days a week (dh works at home one day), upside is that we'd get 3 days a week of care for less money in an environment that would probably offer more stimulation to a 3 yr. old.

I'm feeling about 75% sure that I want to choose the preschool, but here's my hangup--I'm worried about her missing out on more of that nice homey environment and being around younger kids and babies, especially since we don't have plans for another child ourselves. But I also know that as she gets to be one of the oldest kids in daycare that the younger kids do put some limit on how the older ones can spend their day. She'll be spending the rest of her school years with peers, why limit her to playing with other 3 yr olds now?

Feeling torn, and ANY thoughts would be appreciated.

Thanks for your help!
Chris