From the father of a boy adopted at 3-1/2 years:

We adopted our son at 3 years 8 mos (we had originally hoped he would arrive at 3 years, but that is another story). He is great. He was a little spooked when he got here, especailly around me (he may not have been too
used to men), but he loved my wife from day one. Of course now he delights in giving her little boy hell.

We have spent a lot of time playing catch up. Physically, our son has been growing like a weed, he's well above 50th percentile for his age, pretty remarkable for a India kid.

His speech has been more difficult. We are working on his pronunciation something fierce, and we are trying to
get him into ESL classes through the schoool district. Probably our fault for not starting the ESL sooner.

All in all, we think toddlers are great, if just a little more work becuase of catching up. In fact, we are going for number 2 - a toddler again.