Yeah, my almost-5-year-old daughter and I went on our first 'caching expedition this weekend. My wife and I'd been mulling it over for quite a while after reading an article about it and this weekend we finally decided to jump. Short trip to the store for a GPS unit and then we were off. In the backseat all I kept hearing was "I can't wait to find the treasure, Daddy."
The caches we hunted were within a mile of our house in a park that we frequent almost daily. Following the arrow we narrowed in and finally left the path at an opportune point. About 35 feet in we practically stumbled upon the ammo-can cache! My daughter shrieked and we ducked down and got to digging in the loot. Lots of interesting things but we neglected to bring swag -- we left in a hurry -- so we just signed the log and went to the next one. It was about 1000 feet away and after a bit more hunt through the woods we finally scored it.
Last night all three of us finally got to go out for a quickie micro cache find. My wife and daughter navigated us to the parking lot and we were stumped for a good 20 minutes until my wife had a flash of inspiration and found the very well-disguised cache.
I think it's a wonderful activity and already day-dream -- and dream, actually -- about the hunt.