Ok, I'm going to break a rule and post before reading too far in. I read the initial post and a couple down, noticing Debbie and Sam are in the mix, which is good. So here are my thoughts.
1) Don't stress. It is going to be alright, and flying is a fun and amazing thing. there are lots of details, but even the most inexperienced traveler who doesn't come to a board like this to get info does just fine.
2) In general, the best time to buy tickets is from six to four months out, in general. The 4-6 week thing was last millennium
. The legacy airlines begin releasing their super economy around the six-month window and the "low-cost" airlines (Southwest, JetBlue, etc) release their schedules about the same time.
3) To search for airline prices, use a tool like Hipmunk.com. Since you are fairly new, you'll like Hipmunk. It uses the same tools as the more advanced ITAMatrix, but in a more easy to understand format. It is not an online
travel agency (like Travelocity, Priceline, or Expedia), so you won't get hurt using it. Instead, the "Book It" button takes you straight to the airline's website to get the tickets. This is important, as you'll then be a customer of the airline versus a customer of a
travel agent that has a virtual presence, in other words the airline will talk to you instead of forcing you to talk to your broker.
4) 747s are still around, but are rarely (if ever) used in the continental US. Instead, airlines use narrow body aircraft like 737, 757, and Airbus, which generally have a 3 on 3 configuration.
As such, you'll likely have a good setup with one parent and two kids per section, with grandpa living it up in first class...or somewhere else on the plane
. The decision is whether you'd prefer to sit one group in front of another or just take a whole row. This brings me to...
5) Reserved seating is available on the legacy airlines (Delta, United, US Airways, American) as well as some low-cost airlines (JetBlue, Frontier). Airlines decide how this is done and whether to charge. For instance, American charges for some aisle and window seats, as well as seats closer to the front of the aircraft. Delta does not charge for reserving your seats, neither does United. Just look at the various airline websites to see who charges what. You can even make a mock reservation (up to clicking on the pay button) to see what the fees will be. Southwest boards by group, and there are lots of threads on this on the DISBoards
.
6) Value is a personal thing and what you are really looking for versus price. If a ticket is cheap but at a bad time or requires a lot of fees, then it isn't as good a value as a higher priced ticket with extras added in. For instance on Frontier, the economy ticket has the lowest cost, but you pay for bags and in-flight entertainment. However I usually found the Classic ticket to be a better
value, since it included bag fees and in-flight TV during football season (which is important!!
). Set a reasonable price threshold and the expected service you want for it, then when you find a ticket that meets the criteria, book it and don't look back.
7) There are several ways to save some money, since you are looking at travel a year out. The biggest way to save cash for your clan is via co-branded airline credit cards. Most airlines have them, and many cards offer amenities for the annual fee, such as one free bag up to a certain number of people (Delta allows 9 while United allows 2) and priority boarding (board the aircraft before general boarding, which ensures time to get settled and overhead bin space for your carry-on bags). There are other benefits that vary by airline, as well, such as US Airways companion fares that allow two companions to fly for $99 each plus tax & fees (with a regular ticket of at least $250).
In addition, these cards generally have a sign-up bonus of a number of miles if you spend a certain amount within a specified period. For instance, United's card has a 30,000 mile bonus for spending $1,000 on the card within three months. Most families can spend $340 per month on groceries, gas, telephone, etc to meet the minimum threshold. These 30k points can easily get a free flight on United (best award availability), which may save on costs for dear old dad tagging along. Usually, the annual fee is waived for the first year, too, so it is no cost out of pocket for the first year and you can cancel
when the annual fee comes due.
8) There seems to be quite a discussion regarding car seats and lap babies. I do not think a two year old will qualify under the airline's rules, but you can Google the airline's Contract of Carriage and it is spelled out. In addition, I highly recommend each kid have their own seat, so they have space to themselves. Check to see if your current car seat is FAA rated. If so, bring it along. Little kids enjoy the comfort of their own space that they know well. We can discuss this in depth closer to travel date, and I suggest not getting bogged down in this discussion at this time.
9) From what it sounds like, the TSA wasn't even around last time you flew. Thus, the rules have changed a lot, but that is ok, since you likely don't remember them anyway
. There are threads on this, as well, but we can also discuss the security checkpoint tips closer to flight time.
In summary (you still with me?
), take a look at Hipmunk to get an idea of prices and availability. This is a great site to buy through, as well, since you are dealing directly with the airline versus an online travel agency. Plan on getting each person (young and old) their own seat; you'll be happier for it. Buy your tickets from six to four months out, and investigate possibly using a co-branded airline credit card to offset some ancillary and ticket costs. Remember, most legacy airlines allow you to pick your seat at booking for free.
In the end, have fun with it, don't stress, and Good Luck!
You are the only non-frequent flier I've seen post about this on the DIS! 
You are waaayyyy ahead of the game if you have this little nugget of info in your pocket. Bring a copy to the airport with you, as the agents sometimes don't know the FAA rules, yet they are required by FAA ordinance to allow you to use the FAA rated seats, and if it doesn't fit in the airline seat assigned, they must move you vice force you to gate check the seat! 
Great job! 
