Being a manager - a *good* manager - requires just as much training and work and learning as it does to be a good programmer. If you are considering making that move, be prepared to take some courses and read management journals and blogs just like you read programmer stuff today. It's a skill and an art, too.
Also, don't give up programming. Keep your fingers in the pie, give yourself some of the project tasks (make sure they're not critical-path jobs!), keep up with languages and trends. You'll get more respect and support from your team, you'll make better management decisions, and you'll be more effective at communicating the issues with upper management.
In the end, it can be just as rewarding as being a straight programmer, but your rewards will come from seeing your team members achieving great things and knowing that you helped them be great.