Congratulations on your new pet! It's so great to see responsible parents educating their kids about reptiles so early! I'm sure you don't want your son's new bp to starve itself to death, or strike and possible bite him though, right? So, although having your first snake is very exciting, and you/he probably can't stop observing, it will go a long way to just let it be for a while. Make sure that you have the tank all set up very well. You didn't list anything that was in the tank, so I hope you haven't made the same mistakes that most new reptile owners make. You should have a good digital thermometer to monitor the temeratures accurately. How are you heating the enclosure? You have a log hide and a water bowl which is good. Make sure you have at least 2 places for your bp to hide in. It'll probably spend 95% of it's time in one of them, so you should offer several in a variety of temperature zones within the enclosure.
Now, after you confirm that everything is set up ok, just let your snake be alone for about a week. Right now, it's whole environment is new to it and is probably scared of anything that moves...too scared to eat, most likely. The more you pick it up, the less likely your snake will eat. After a week or two, try throwing in some food. You will find that most people feel strongly against feeding live rodents because they will eat your snake if given the opportunity. However, since Petco fed live, and that is what your snake is used to, and your goal is simply to get your snake to take its first meal....go ahead and throw in a live adult mouse. The mouse can't do much damage anyway, and by then, your snake should be good and hungry. Once your snake eats, then leave it be for about 2 days, otherwise it'll throw up a half digested mouse! You don't want that. Make sure that your snake has eaten 2 or 3 times before you really start to work on handling. And once you do start handling, remember that although it may seem like your snake enjoys it, it probably doesn't...so be gentle, move slowly, don't touch it's head...just let it crawl over your hands until it feels comfortable....don't let your 7 yr old drape the snake around his neck...shouldn't be a problem, but your snake will soon be larger than your son!
Good luck!
Jeremy