Terri,
I had (and still have) many of your same concerns. As to the drying time, I have found that Winsor & Newton Artist's Oil paint mixed with flake white (which of course occurs all over the face), to dry overnight. This is when used with no medium or with just a little cold-pressed linseed oil for thinning, however I've applied the paint somewhat thinly. If there's no flake white, such as in a background I'm working on, it's taking several days to dry. I think it depends alot on the type of climate you're in, dry or humid. Although working wet-in-wet is wonderful, you can still rework an area that's wet by painting over top of it, but not pressing as hard so as not to mix with the paint below. I haven't tried scraping yet, as Steven said.
It's hard to give you an idea of time, as I really haven't used oils enough yet. However I would guesstimate that I could do the same oil painting in 1/3 to possibly 1/2 the time as acrylics.
Do what you enjoy and what works for you. If you're comfortable in acrylics, all the more power to you. However if you're interested in oils, what you could do to cheaply check it out is what I did. I bought several tubes (terra rosa, indian red, yellow ocher, cobalt blue, flake white 2), and did a rough painting of myself with an acrylic brush, just to see what it felt like. I was happy at how fast it came together. However I did it in one sitting, applying successive layers (which gave me some definite mush), and it took several days to dry. Then I ended up taking a
portrait workshop, which for me worked out very well.
I do suspect that one could command a higher price for an oil portrait over an acrylic portrait, as oil is a more traditional medium, however that is up to debate.
As far as storage, perhaps you could use half of a closet (non-kid space that is) and rig a rack where canvases are placed vertically, but stacked basically with some air space in between, all facing a closet wall where they won't be accidentally touched.
Hope that helps some,