Wow great suggestions so far. My suggestion is not so much fun but given he's artistically gifted and depending on what he values, I was thinking one of those beautiful wooden boxes of pastels, pencils or oils that could be engraved. Perhaps supplemented by something cheap, disposable and lots of fun. Especially if it's the last year you think you'll do actual gifts. My DH who's a talented illustrator still has the pencil box he was given when he turned 12.
ps DeHe you read my mind. I'd also been planning to ask lucounu about Mindstorms as my DS turns 5 in a few weeks. And thank you lucounu for the info - very helpful. I thought it might make a great combined birthday/Christmas present. He's currently trying to make his lego creations (including sets marked for age 10+ so consturction won't be an issue) work using his basic electric circuit kit. Hasn't a hope in hell but he's having fun. We checked out the Mindstorms box at the toy shop last week and his eyes were like saucers.