I only coached basketball for a year, but I did coach baseball for 11 years and soccer for 5, so I'll echo some of the same things mentioned. Work on fundementals and keep your practices moving because if there's a lull, there's trouble. If you have 10 kids, that's perfect for scrimmage. Try to keep the the sides as even as possible. At that age, skill levels will be all over the place.
You're going to have some parents that are uber-competitive and some that are just looking for a babysitter, so be prepared for some grief about playing time. Communication is important not only to your kids, but to the parents. If you do send out an email, you can do just a broad overview about the team and tailor a short message about the kid's progress only to the each set of parents.