I love encouraging posts like this!
As for family friendly hikes with two small kids ... oh boy, how about the Agnes Vaille Falls trail? That is only 0.5 miles to the waterfall. You could always walk on the railroad grade inside Chalk Creek Canyon as well. Just a couple of ideas.
Agnes Vaille:
http://coloradoguy.com/waterfall-sawatch-mountains.htm
Railroad Grade:
http://chaffeecounty.net/railroadgrade-trail.htm
Or how about hiking to the first unnamed point south of Cottonwood Pass? There is a trail leading up there.
Here:
http://cottonwoodpass.net/continental-divide-trail.htm (Pics aren't the greatest. It was cloudy.)
-Steve
Cottonwood Lake, CO - Altitude 9,552 Feet