Yes, I think it's a fantastic idea. If someone wants to try drugs, they will try them. Regardless of whether they are illegal. Harm minimization, as someone else said, is the way to go. You can't stop people taking drugs, but you can make sure they do so safely. Treating otherwise normal people like criminals makes things far worse. Portugal de-criminalized drugs over 14 years ago and it has turned out to be quite a positive change.
Kids get curious. You can do all you can as a parent to educate them of the evils of taking drugs, but at the end of the day, they make the choices for themselves. I hope my future kids never touch the stuff, but if they did, I would want them to do so in the safest way possible.
I am, however, for arresting the dealers, etc.