Parents in "back to school mode" read up.
This is a good calculator if your kid is in HS and is NOT likely to pursue a degree in math, physics, engineering, computer science, or other math heavy fields. If they are going into any of those fields, it would be handy to have a calculator that can solve symbolic equations (which this calculator can not). But this calculator should be sufficient for any high school level math course (even AP courses).
Whatever you do, do not buy for the short term. You want to get your kid their college calculator in their early HS years so they are familiar with it by the time they get to college (or by the time they take the SAT). If you have a kid who will be entering a math heavy field then look more towards ti-89, nspire, or an HP50g. Most high schools recommend TI calculators but the calculator of choice at most engineering schools tends to be HP. These observations are based on my experiences as a student, engineer, and HS math teacher (both direct experiences and talking with colleagues who went to other schools and friends who work for different companies/schools). While virtually every HS math teacher will give demonstrations using a ti, any competent teacher should also know how to do similar functions on calculators from other manufacturers.
Personally I think the HP50g is the best calculator one could get right now. HP has much better programming capabilities which is useful in upper level physics/engineering courses. Also, it can be switched between algebraic entry and RPN so the user can start using the calculator in algebraic mode right away and then switch to RPN once they become comfortable with it.