I agree wholeheartedly.
For right now, my kids are four and six, and their computer use is monitored for a host of reasons, mostly because they recently crashed my computer by somehow erasing several system files.
But my computer is in my room, and it's staying here.
I heard somewhere that 80% of children who go online are approached by an online predator. I was. I had a computer in my room when I was a teenager, and a 23-year-old and I started talking. I was stupid enough, or naive enough, or just pathetic enough, to think it was cool that this college graduate was interested in me (not many boys were at the time, I was shy and ugly). I cringe when I think about some of the stuff we talked about then, and what my parents would have done if they found out. I ended up meeting him somewhere for a date, and (once again) Stupid Mandy took over. I got in the car with him. Nothing happened, but when I think of what COULD have happened, considering what I've learned about statistics of online sexual predators, it makes me ill. When I came to my senses and told the guy I didn't want to talk to him anymore, he used information I had given him over the course of our "friendship" (that I was in a play at school, which school I went to) and showed up at my school while I was waiting for the rest of the cast and crew of the show to arrive. The way it progressed, I wasn't ever sure when it turned "wrong", but eventually, I told my dad and he threatened the guy's life (and testicles) if he ever came around me or spoke with me again.
It happens, it's absolutely out there, and sites like myspace make being an online predator REALLY easy.
BTW, the parents on here do need to keep in mind that many kids are more computer-savvy than they are. It's easy to clear out the history or get around passwords or firewalls, if you know what to do. Also, the kids need to be taught that most online predators are highly skilled at sounding like someone who is non-threatening. Most are not honest, so they won't come out and say "I'm forty-seven years old, but I really like the teenage girls." They will just convince the teenage girl that they are a teenage boy. ANY communication with a total stranger on the internet, regardless of how little a threat he or she may seem, should be VERY VERY cautious. And remember, on myspace and other sites, a person can post a picture of someone else and claim to be that person, and even things as innocent as a picture of a student in a letter jacket can provide a really serious predator with enough information to find the teenager IRL.