If you can leave the baby with relatives and you and your wife are comfortable with doing that, then that is the best choice. Having a baby along is going to limit your activities. Also, the baby is not going to remember the cruise or even care that they are on it.
BUT, if the only way you can cruise is to bring the 1 year old, then do so (or choose another type of vacation).
Carnival Cruise Lines:
Fantasy 90, Celebration 95, Victory 05, Conquest 05, Spirit 6/06, Freedom 6/08, Holiday 7/08, Victory 6/09, Valor 9/09, Dream 6/10, Splendor 8/10,Conquest 8/11,Magic 11/11,Triumph 4/12,Spirit 7/12,Freedom 11/12, Triumph 2/13 - The fire cruise
NCL Dream October 2006, RCCL Mariner OTS June 2007