Another aspect often overlooked is how great help grandparents can be. Even though nowadays that is often seen as a big no-no, in some cultures, and if they are willing to help, they can make young parents' life much easier.
Yeah, there are some drawbacks. They are far more permissive than we are, and my 7-year-old takes full advantage of that. But they give support and love and interaction that we sometimes don't have time for.