@baseballchic,
What a terrible situation to be in, baseballchick!
To begin with your first point, I don't really see why confronting your boyfriend is such a long shot. First off, you should give him the chance to defend himself. There is, after all, the chance that you're wrong and that he's not cheating after all.
If on the other hand, you are right, he is cheating after all, and you cannot bring this to a resolution like grown-ups together, how are you going to handle the responsibility of parenthood like grown-ups together? I don't see why the child should should keep you from dumping this guy for cheating. If he needs dumping for being an unreliable boyfriend, he also needs dumping for being an unreliable parent.
Which leads me to the next question: Did you tell him about your pregnancy yet? If so, how did he react?
As to your options about your pregnancy, I think you should talk to professionals. Does
Planned Parenthood have an office near where you live?