[url="http://www.wcox.com.au/transloc.htm"]http://www.wcox.com.au/transloc.htm[/url]
"a reciprocal translocation does not result in a loss of genetic information; therefore individuals can be viable and normal"
"Balanced reciprocal translocation is unlikely to have any severe consequence for the cell because, even if one of the breakpoints lies within a gene, most mutations are recessive. Translocations can however give rise to difficulties with reproduction."
I had never heard of this until your post and went and did some research. I hope these sites and posts help you. From what I can tell, the effects on the baby are only if the translocation is unbalanced. And like you mentioned, there can be issues for him in the future if he decides to have children, but that isn't a definate and who knows where genetic science will be 25 years from now?
Good Luck to you guys and your impending little guy! God Bless.