WPF enables you to do some amazing things, and I LOVE it... but I always feel obligated to qualify my recommendations, whenever developers ask me whether I think they should be moving to the new technology.
Are your developers willing (preferably, EAGER) to spend the time it takes to learn to use WPF effectively? I never would have thought to say this about MFC, or Windows Forms, or even unmanaged DirectX, but you probably do NOT want a team trying to "pick up" WPF over the course of a normal dev. cycle for a shipping product!
Do at least one or two of your developers have some design sensibilities, and do individuals with final design authority have a decent understanding of development issues, so you can leverage WPF capabilities to create something which is actually BETTER, instead of just more "colorful", featuring gratuitous animation?
Does some percentage of your target customer base run on integrated graphics chip sets that might not support the features you were planning -- or are they still running Windows 2000, which would eliminate them as customers altogether? Some people would also ask whether your customers actually CARE about enhanced visuals but, having lived through internal company "Our business customers don't care about colors and pictures" debates in the early 1990s, I know that well-designed solutions from your competitors will MAKE them care, and the real question is whether the conditions are right, to enable you to offer something that will make them care NOW.
Does the project involve grounds-up development, at least for the presentation layer, to avoid the additional complexity of trying to hook into incompatible legacy scaffolding (Interoperability with Windows Forms is NOT seamless)?
Can your manager accept (or be distracted from noticing) a significant DROP in developer productivity for four to six months?
This last issue is due to what I like to think of as the "FizzBin" nature of WPF, with ten different ways to implement any task, and no apparent reason to prefer one approach to another, and little guidance available to help you make a choice. Not only will the shortcomings of whatever choice you make become clear only much later in the project, but you are virtually guaranteed to have every developer on your project adopting a different approach, resulting in a major maintenance headache. Most frustrating of all are the inconsistencies that constantly trip you up, as you try to learn the framework.
You can find more in-depth WPF-related information in an entry on my blog:
http://missedmemo.com/blog/2008/09/13/WPFTheFizzBinAPI.aspx