if/when i have a kid, they'll know everything about sex by the time they hit 10.
it wont be treated as taboo, but it will have the importance expressed to it that it is a risky act both emotionally and physically and that they should be very careful.
furthermore, I wouldn't bother lying to them about the easter bunny, the tooth fairy, or santa claus. I lost a lot of respect for my parents when they told me the truth when they figured I was old enough to know (probably 13 or so)
I can't respect people who have me place my faith in them over fairy tales, it pretty much shattered any sort of shred of belief I had for religion too, but that was always a stretch
/tangent
anyways, point is, don't make it into something sacred and momumental/mystical. Just be plain and factual and make sure they have the attention span for an hour long discussion since you'll have to answer a lot of questions possibly.
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