"- I know I need more free time for my family and the kid. I don't think I should be living two work lives for that much time or I'll end up not seeing my kid grow up or something. As much as the freelance gigs make me feel really accomplished, I realize I also need time for "real" hobbies (music making, woodworking), exercise, etc."
This bothers me. You made a decision to start a family, when you did so, you made a commitment to uphold their well-being to the best of your ability. Living "two work lives" will most likely have detrimental effects on your relationship with them. I know, I've been there. Be careful to balance your needs with those of the ones you love, they are more important than some temporary high of doing fun work on the side. Yes we need to do meaningful work in our lives, but not necessarily at the cost of these other meaningful things. As a programmer (and creative) with a family, I completely understand where you are coming from. As a loving father, it is easy to make the necessary sacrifices. I hope you find more meaningful work soon, but unless you breath that work with your heart and soul (which is rare), it will always be just that, work, and at best a fun distraction you will trade for time.