Appreciate the input Slappy. I was checking out the Haro Micro-Mini this week. Looks like a fun kid bike, but definitely out of the price range I was shooting for. I've taken my kid to the Billerica BMX track once and he was super excited. We were only able to watch though as there was some pre-race practicing going on. Also, definitely not a weight weenie - I'm more inclined to just visit the bathroom before a ride than spend thousands of dollars on losing a pound here and there.
Probably going to stop by CycleLoft soon, since they have LocalBMX across the street. Figure that way my kid can try both styles (mtb vs. bmx) and see what's more comfortable for him.