I've seen young men in the role of Peter Pan twice at the Children's Theatre Company, and it hasn't worked, but when Cathy Rigby did it, the show was dazzling.
I directed an environmental theatre approach to the show and had two young girls as Peter and my Mrs. Darling became Captain Hook. It was a lot of fun, and my Hook was scary. I also had a little girl as Tinkerbell, and at one performance, a little girl reached out to touch her. That made the show entirely worth it.
NYC Visitor and Broadway Fan