There is no reason why you can't integrate everyone into the new family and routine. It's easier than it might sound and the payoffs are immesurable.
First, and what a lot of parents worry about is the dog in the nursery room or something like that. You can very easily teach the dog to stay outside of that room if you want through the clever use of a "stay" command and a babygate. Now, if you don't mind the dogs being in there, disregard this statement. Have a special chew toy or something that they only get when they are lying quietly on the floor in that room, to build the association that good, calm things happen in that room.
The dogs are going to know something is changing. Your wife is going to be changing and both of you will be bringing lots of new and very interesting stuff into the house. Keep to as normal of a routine as possible, this is going to be the best thing for them.
When your wife comes home from the hospital with the baby, I suggest a couple of things. First, if she stayed overnight and the baby has a diaper or a blanket that they've used, bring that home with you and let the dogs get a gooooood long sniff at it. Quietly tell them what good dogs they are, tell them what's going on. They may or may not actually understand what you're saying, but the tone of your voice will clue them into a lot. Next, when you do bring everyone home, you take the baby and let your wife walk in first. She's still going to smell of the hospital, delivery and all sorts of new hormones, so it's best if she's not carrying anything while the dogs take in all the new smells. After they calm down, let them carefully sniff the baby and feed them good treats. Again, build that good association in their minds.
Congratulations, good luck and don't hesitate to ask any other questions, or to provide us with pictures of your pups!