Expensive might not have been my choice since my kids seems to lose things. I would not advise taking the laptop to school. I made the mistake of getting my then 15-year-old son the latest and greatest at the time--an iphone. The phone along with all of his clothes were stolen from the gym locker room within a month of getting the phone. His was the only locker broken into, so I figure someone knew he had this phone and they took it while he wasn't looking.
10 might be a bit young, but it depends on what the computer can do. He could watch movies, do school assignments (wishful thinking on my part), or open a social account with myspace or facebook. There is also the possibility that the thing may sit unused for a few years until the boy turns 12.
Personally, I 'd see to it that the 10-year-old spent time outside being a kid and not inside looking at a screen.