gt6974a is right about it depending on where you work, and if you plan to commute everyday.
For school info, check out
www.greatschools.net Also check out the school districts' websites for more current information, since some stats are a few years old on that website, and this area is growing quite a bit.
We are in West Cobb right by the Paulding County line. We looked at Paulding, Cherokee, and Cobb schools and decided that Cobb Schools were the best option for us. The area you have mentioned and surrounding areas shouldn't be a safety concern.
We have (2) 5 year olds and a 3 year old and have had no problem finding things for them to do in West Cobb, and a lot of those places are nearby if you are in east Paulding. There are parks, libraries, the local YMCA, etc. Kennesaw Mountain isn't terribly far either; we go hiking with the kids there quite a bit. What kind of activities are your kids interested in?