It's no secret that my boys play a lot of video games, and watch a lot of t.v. What many may not agree with, is I don't pay any attention to game, t.v., or movie ratings. If my boys want to watch/play something, I let them.
One of Nico's favorite shows is 1,000 ways to Die, where each episode they reenact five unusual ways people have managed to get themselves killed. Lucas is actually getting pretty good with Call of Duty Black Ops and other "mature" games, on the Playstation. Tosh.O is a family favorite show, and so are shows like Family Guy and Futurama.
I do have a line drawn. I do not intentionally expose them to anything pornographic (True Blood is only put on when they are in bed). Nor do I expose them to things that will cause nightmares. (One might think that 1,000 ways to die would cause nightmares, but it doesn't.) Also, Tim doesn't really play any of the really scary games, so there aren't any in the house for the boys to play either. What I don't care about is supposedly adult language, or adult situations. If my kids hear a word they don't understand, they ask what it means. If they see actions they don't understand, it opens the door for a meaningful conversation.
What's really fascinating though, is that my kids still gravitate towards the kids stuff anyways. Our t.v. is on Cartoon Network more than any other channel, and Little Big Planet 1 and 2 are played more than any other game we own.