So basically she wants to have the emotional/financial security of a marriage while dating (casually of course), raising children part time, not having to go through the pain of an actual legal divorce and gets to talk to her affair partner with NO consequences? Not a bad gig if you can get it!

My H and I will always have a connection of some sort and I am sure we could have TONS of fun together but it doesn't mean he could be a good husband (his live in mistress might not like it, lol!).

Your W is some sort of genius if she can get you to agree to this set up!

You deserve better.