@DanetteDraws Although you are correct Danette (to a certain extent), I don't think it's an all or nothing situation. Even though the traditional style of painting makes up the lion share of children's books today, vector is still used quite a bit. If you look at the 0-3 age group section of any major book store, you'll find that vector represents about 30% of the books (I actually counted). Children of that age like high contrast and little detail. It's not until you pass the age of 3 that the market switches to 95% traditional and 5% vector (roughly). This is strictly my observation from the Chapters and Barnes and Noble stores that I've been in. Even Disney publishes a few vector based books every year. Usually the ones with stickers or pop outs.
I think what it boils down to is the quality of the story and the art. I doubt any publisher would take a mediocre story with mediocre traditional art over a great story with great vector art. Just as long as the art style fit the story and the age category. There are quite a few great vector artists out there today that do strictly children's publications. Diego Diaz is just one that comes to mind.