He will be OK. He is ready, and he can do this, and it is going to get a lot better than it was today. That doesn't mean that this is going to be awesome. Growing up can kind of suck sometimes -- for kids and for parents.
The other day, my son looked at me with those same wide eyes that once asked, "Mommy, when I'm older will you marry me?" and asked, "Mom, I'm getting older, doesn't that mean I should start wearing Hollister?"