In my experience with Bulkheads and a family, is that you could be split up with a parent and the toddler alloacted a bulkhead and the rest of the party somewhere else. However, with the extra space, it would probably be a better flying experience, unless you have purchased a seat for your youngster.
I would advise getting to the airport early and trying for a bulkhead. The airline should be aware you are travelling with an infant, so the bulkhead should only go to another family with an infant or someone with a medical need for more legroom.