Working with COPPA

A new online venture of mine requires date of birth on registration. I want to you know your thoughts on working with COPPA. The terms don't seem too hard to meet, but some of it looks like it could get messy, and complicated. For example, you need consent from a parent if the child is under 13. This would mean the child entering the parents email, then an email being dispatched to them where they must verify. (We're talking extra coding). However, the dilemma is that the 11-13 year old is a valuable audience for this type of site. I notice MySpace doesn't accept <13...

I can't decide whether it is worth the hassle or not. Anyone have experience with running COPPA-friendly sites?