my brother (10) also asked me a few months ago if he could have a facebook. I thought about it, said sure, why not, we have lots of cousins and family and his friends (who are also family friends) .. and its not like i wouldn't be able to monitor his account anytime - we are all open with our accounts and such. But basically that very evening I asked him and he agreed that fb really doesn't make sense for him, its really not worth it. he has plenty of things he can do without going online and fb-ing.
So like yeah, I guess I am ok with it but both of us agree that he doesn't need it. I am thinking the fact that I am flexible and ok with him having one makes it seem a lot more normal and not something he needs to have because its something so special that he can't have it.