It really should be legalized and not regulated in any way. Its up to parents to teach there kids the danger of different substances. If I had a kid that was contimplating taking a narcotic or drinking, I would much rather they try MJ more than any other substance on the planet.
The key of course is education. QUit demonizing the plant, just print the facts and let people decide. There is so much pseudoscience going on anymore that it gets difficult to seperate facts from fantasy.