But for real, I mostly agree with you, although with a less cynical outlook on kids.
The approach I took was not debunking Santa, but also not saying he was real. I let him get his Santa-ness through osmosis with the culture, then when he asked me, I told him Santa is a real role, that Saint Nick was real, and that while he died, Santa carried on and now there are many Santas. Then I asked my son if he wanted to be someone's Santa, and he did, so we dressed him up and he snuck a present into his friend's home (with the parents' permission, of course). He loved it, and I never lied to him. It worked out great.
