What is or what would be your policy regarding your kids and computer usage?

This is a very broad question. Let me try and narrow it down to a few things. Assume I’m talking about kids of any age. I’m asking, would you restrict usage? Would you give them their own computer? Would you have to know all their passwords and everything?

My situation: I got my own computer at around 11 or so. Before that, I had a computer in a common playroom. I shared it with my siblings. My parents know none of my passwords and they don’t restrict my usage and they never have. My parents were restricting my brother’s usage a while back when he was slacking off on his homework. But as that is not a problem with me and I don’t sit around all day, it’s not necessary for me.

So, tell me about it. By the way, I was Dansedescygnes, for those of you who haven’t figured it out yet. :P