While it is up to each parent to make that choice for their themselves. I do not think it is a good idea. Having been a paralegal I have found that with predators being computer savvy these days there is no reason to put a child at risk when you can share these photos and not make them public. All one has to do is look up a person's name and general location. Most map sites provide school information along with address and phone number. Even if you do not post that child's name which is unlikely, a predator can stalk a child/family and learn the habits and name of the child which will assist them in gaining trust.
Furthermore, if someone wants to steal an identity, trolling the internet for pics of children - naked ones or clothes can lead to identity fraud - the person can steal the identity of the child and it will not become apparent til the child reaches adulthood. Parents do not routinely check the credit of children. But those who know the internet and know how to use services such as ancestry.com, request birth records from information posted on personal sites, etc. can easily steal the identity of your child(ren).
If you do post, make pictures private for family/friends only. Be careful of who you friend and don't post personal information such as names, date of birth, birth hospital, etc. It seems like innocent information but in the wrong hands it is only going to lead to trouble.