I think Free 2 Play is a quite good model and is here to stay, but definately not for all games out there. The only major problem I have with it, is that it has a high risk of turning into "Pay 2 Win", which is something I think no one supports.
I can't see a kid asking their parents once a week for a credit card to purchase in game items. Parents will catch on quick and wonder how they are spending all that money.
I think that with the introduction of casual games, this is chaning rapidly. Remember that nowadays, even those parents play games and buy ingame items, and if they don't, they have probably heard about others doing it, so they'll understand why their kids wants a new X for their Y. If all else fails they'll at the very least understand the argument 'All my friends have pirate hats, so I want one too', which has always worked on parents...