Definitely definitely near your home would be my vote. This way your baby can still go to all the baby groups, go for walks near your home, be in a familiar environment etc etc.
One of our main reasons for choosing childminder over a private nursery, apart from cost was that the childminder was in our village and we wanted DD to be able to go to the school nursery when she was 3 (OH is an early years primary teacher so this is very important to both of us). So if this is important to you and you don't want to have to change Ollie's childcare when he's a bit older, then a childminder in your home town may be the best option.
If you go for this option then you will have to be able to get home if something happens or your child is sick - this worried me when I worked 30 miles away in the nearest city on public transport (I work much nearer home now) - but OH was only 30 mins away by car so one of us could have got there. However, DD has never had a day off the childminder to date and she's been there since start of August 2008 (so six months) - due to her illness or childminder being ill and we've never been called to come and get her either.
Valentine Xxx