I went against the Tammy and DA ltd options and went the 50-135. Too big...probably, expensive...yes. but when a usually frugal wife says i like the big one...you get the big one! Even if I need the Tammy later, for $300 it's doable.
The 40/70 combo would have been great, especially for any street shooting I did in the future but what's why I've got my Tak's for. The 50-135 will be great for portraits and general shooting of my child for many years to come. I also have a concert to shoot in June where it will come handy
Again, thanks everyone for the great suggestions!