I'd agree with the above. Mesa Verde is well worth all that time, however, I think landmariner meant to Say 2days/3nights..
If you want to do both the Cliff Palace tour and Balcony House on the one day, be sure to book at least 24 hours beforehand. The tours book up quickly, because it is the only way you can see these attractions, with the ranger's commentary. They are the most magnificent and historically significant attractions in the park.
When I did them there was a family with very young children in the group.
Don't overlook the Durango Silverton Railway, which the toddler and parents might enjoy.
Lifey