My mom had her dog when my sister was born (4 years ago) and nothing really changed. Their dog stayed in their bed, she was fine. Jealous of the baby at first but she adjusted well.
My aunt had her baby 2 years ago and her Pit Bull still sleeps at the foot of the bed, but they have a HUGE bed lol.
Ummm... let's see, who else have I experienced? Oh, my dad and stepmom still had our Golden Retriever when my almost 8 year old brother was born and she continued to be in their bed/room. My lawyer's Boxers that I used to watch also stayed in the room/bed when baby was born.
Yeah it just worked out for all of them. The dogs never changed anything. When the parents got up with the baby, dogs just slept through it, or followed them from room to room. I think of it this way, there has been nights where I had an upset stomach or something is out of norm and I'm getting up throughout the night and Jackson just stays in my bed, then I crawl back in, and go back to sleep. I know that's different than a baby, lol, but just saying.
It's just never really been a big deal for anyone I knew with a baby. Dogs adjust very well most of the time and are smarter than we give them credit for.