My impression of Exeter was the same as CFK's above--but my very good friend who did not fit into the affluent/large disposable income/clique-ish crowd (and didn't want to!) had a wonderful experience there and speaks very highly of it. Also--check out Andrew Sullivan's blog--there were quite a few entries about Exeter in particular a few months ago and the doors it opened for alumni.
My dh went to boarding school starting at age 10 and I always swore I would never send my kid away before college. But I think for the right kid it could be a great experience.
