I'm using Children and Pregnancy (Version 0.5b) and so far I like it a lot and would love it if Psychology supported it. I find it to be the most realistic of children mods - it does not aim to just give you another way to recruit people, but instead add some challenges and life to the game. I'd say it would be a good match for psychology - children grow up slowly in that mod, it literary takes years to bring one up while feeding and keeping it safe and the emotional aspects are lacking - new parents do get a mood buff... But while it gives you a lot of events the colonists seam to ignore most of it from emotional point, things like miscarriages, abortion, being sterilized, the father of the baby dumping mom...
I'm doing a tribe run with it and Psychology installed and I have a lecher colonist who had affairs with 3 ladies by now, the first one got pregnant and miscarried, the second one had his baby when he moved on and slept with the third... Would be tones of drama in RL, but did not influence the game much as far as moods are concerned.
I would love it if more traditional colonists felt obliged to marry the mothers of their children, for example :)
Seeing the babies grow and develop would be great as well - it gives you something to get interested and invested in while they grow up, if would be fantastic if their personality and talents depended on how well cared for they have been and general events of their lives. Whit a mod that is as long term as Children and Pregnancy adding some excitement to growing up process would multiply the value of both mods I think :)
That and I'm a bit fed up with toddlers crawling out of the house to attend elections and a meeting with a mayor I'm sure they bring up some valid points at 1 year of age :D

Did a bit of extra digging about the subject, apparently a popular thing to do is use baby and children mod, that is a "renovated" version of Children and Pregnancy, and use it with Children, Schools and Learning mod. Where CSL is handling pregnancy, education and older children while BC does the infant to toddler stages, so if you want to support kids it's probably worthwhile to take a look at all of thous :)

I'm not too concerned with "education." I find teaching mods to be way overpowered. Thanks for the tips otherwise, though! Is Children and Pregnancy not supported anymore, or does Babies and Children mod just fork it in a different direction?

I think Babies and Children peaty much is the new version - it is updated and so far supported. The only problem with it is the removed pregnancy part, it simply does not work on it's own - needs something else to get the babies going... The learning mod does exactly that - allows the pregnancy to occur, the stuff for medical and contraception is handed over to it as well. I'm personally not that keen on the school either, but it is customizable and the other pregnancy option is the adult only mod :D The Children and Pregnancy still has it's own handling of the pregnancy part and works as standalone. So I'm assuming would be easier to figure out. I'm running 140+ mods and had no issue with it - it works pretty well so I consider it more of a "done" mod than outdated one, it does feel a bit "bare bones" but perhaps that is what saves it from conflicts.

Children and Pregnancy is, to my knowledge, not being updated anymore. Baby & Children is more recent and being actively updated, but has no built-in pregnancy system and must be combined with either CSL or RJW.

Children, School and Learning adds pregnancy and children to the game, though it has no mechanisms for young children and default mod settings have children being born at 14 years old and ready to begin working immediately. Some consider the school and learning systems overpowered (I don't myself - schooling requires a prospective teacher to have a high skill in whatever stat they're trying to teach and a decent Intellectual besides, and they can't teach students a higher level than their own, meaning to get a student up to 20 in a skill off school alone will require a teacher with 20 in both Intellectual and whatever skill they're trying to teach and several years worth of classes unless the student has double flames for the skill), but they can be disabled using the mod settings by having the minimum age to begin school being a ridiculously high number.

Combining CSL and B&C (and editing the appropriate Mod Settings so they work together) results in a fuller but more long-term experience where newborns will require years of safeguarding and schooling before they're capable of contributing to the colony, but with dedicated investment into education they can indeed become highly skilled. Which seems fair and balanced to me.

Without CSL the only mod that I know of that lets B&C work is RJW, a porn mod based around sex and pregnancy. Most of its more infamous portions can be disabled through mod settings, but it is not available on the Steam Workshop, the Ludeon forums, or even the Rimworld Nexus and has a very bad reputation.

Edit: When using CSL and B&C one might also look into The Birds and the Bees. This doesn't add pregnancy or children at all, but does allow for impotence due to age or injury to the reproductive organs and some basic bionic replacements for them.