If you want all the extras, and to be looked after in the event of disruptions then fly full service and pay the extra money. Full service airlines generally aren't so tightly stretched for aircraft availability and can work around a breakdown alot better than a low cost. They are also much more inclined to provide meal vouchers and hotel accommodation in the event of a delay or cancellation.
I fly a mixture of full service and low cost for private travel. If the wife and kids are travelling alone definately full service, I want them looked after if things go wrong. Me and the wife on a short break flying a route serviced by other airlines, low cost is fine. A delay won't affect us too badly without the children getting bored and if the flight is cancelled there are other options to get back.
If the low cost is half the fare of the full service airline why not ? Always shop around though, with no child discounts on LCCs and expensive last minute fares, full service can often be cheaper or only marginally more expensive.
Ryan Air, Stanstead - Dublin perfectly acceptable as they have many flights per day on this route and both places are main centers with transport and acommodation options. I would be hesitant to fly with them to an out of the way place they only serviced once a day where I would have few options if things went wrong.
Basically you get what you pay for, shop around, read the terms and conditions. If you want to save money by going low cost have a back up plan just in case.