Yippee!
My youngest (2-anna-bit) is also getting a balance bike for Christmas, although probably not such a nice one - second hand off a mate who is flogging it to granny for a couple of bottles of wine. He's already picked out n+1 though; looking at the islabikes site t'other day he pointed out a Cnoc and announced 'that's my bike!'.
You have a very lucky small relative