Bigger has some great advice and I hope you will absorb it.
I am one of those who has a high skepticism meter for reconciliation -- not in all cases, but certainly in LTA's and serial cheater situations.
And definitely when a WS is trying to bully a faithful spouse into a so-called "open marriage" (which is really just a one-sided arrangement to allow her to cheat). And let's be honest about what is going on here: She can couch this in reasonable sounding language and platitudes, but this is ABUSE and it is sick and it is bullying.
The damage she's doing here is so momentous you haven't really even begun to absorb it yet. You will and once it all sinks in, it will probably horrify you.
One instance of infidelity of "average" length (usually 3-4 months) is a mountain to climb. Multiple, serial cheating, long-term affairs are magnitudes of order above this.
If she can't or won't grapple with that reality and very soon, then I'm sorry but no, I can't pretend that a reconciliation attempt is going to succeed here.
I like to quote Proverbs 30:20 sometimes and I'll aadmit it's not applicable to every case. But it fits here: "This is the way of an adulterous woman: She consumes a man, wipes her mouth and says 'I have done nothing wrong.'"
Now you can easily reverse the genders of most Proverbs and the advice is the same. I do think this describes what you've told us about your wife. She doesn't REALLY see anything wrong here and now wants to "negotiate" with you on how she can keep doing what feels good to her in the moment, regardless of your pain or the danger to you and your family.
I feel I'd be dishonest and inauthentic if I tried to pretend this is a good situation and she's a great candidate for reconciliation.
That said, I do believe reconciliation can be achieved. I truly do. I'm rooting for all those who are attempting it and for those who believe they've at least found some modicum of it. At the same time, unfortunately as has been noted by others in this thread, the odds are stacked against it. It's a brave and courageous thing to go for, and it is a testament to the power of love. But we'd be whistling past the graveyard to pretend the odds are great.
They are much better odds when you're dealing with a wayward spouse who has figured out how to deal with their self-imposed cranial rectal syndrome. Waiting around patiently for a wayward to do this over months and months is essentially doing the pick me dance, and ill advised.
They either get it together lickety split, or you move to get yourself away from their crazymaking and toxic behavior. That's my take.
Now I'm also one of those who recommends at least talking to a lawyer and truly understanding the divorce process. I'm almost 50 years old and have been completely naive about what divorce entails. I never thought I'd be here, so I never bothered to learn about it. Why would I? It would be like reading the fine print in all those warranty agreements. It's a black box to me. So talking to an attorney at least has allowed me to understand the process and what a reasonable settlement looks like.
I'm also one who often recommends that after seeing an attorney you strongly consider filing for divorce -- or at the very least enforcing a therapeutic separation between 30-90 days. I don't do this because I'm rooting for divorce. I suggest it because it's one of the tools in your toolbox that, if deployed early, can radically change the equation and put you back in control of your life. It shocks wayward spouses to their core much of the time. I didn't do it in my own case, and certainly wish I had. I did a number of "shock and awe" things that did bring the affair to a screeching halt and surfaced what I believe to be most of the truth. But I also found myself in limbo with a WW who didn't fully grasp the depth of what she'd done and then turned around and deployed on me the usual litany of additionally damaging behaviors, the terms for which I only learned later: trickle truth, pushing to rugsweep, cajoling me, continuing to gaslight, blameshifting, minimizing, rationalizing and DARVO.
Filing for D in my opinion, or at the very least getting real physical separation in place, gives a betrayed spouse some peace and space so they can begin to think more clearly. It also brings home immediately to the wayward spouse what they have truly done and what they are about to lose. If it results in the wayward plowing ahead with their transgressions, then it simply throws a spotlight on how unsafe a partner they were in the first place.
I can for sure tell what NOT filing for divorce or separating in the early days has done for me (and of course this is only my own personal case, but I feel it probably resonates with many): It has led me finally four years later to begin moving for divorce.
I think oddly and ironically filing for D or a separation can actually save the marriage, while dithering and getting caught in nice-guy feedback loops and hellish limbo all but ensures divorce will come regardless.
So that's why I recommend filing quickly or moving for a separation.
Think about it.
[This message edited by Thumos at 12:07 PM, October 29th (Thursday)]