My parents didn't let me collect the cards when the fad first hit. In retrospect, they were savvy enough to know how quickly the craze would die down and how much money would essentially be wasted on simply collecting them. They did allow me to play the games though, and I had a sticker book for which six stickers were only 30p from the Newsagents, meaning I got the fun of "catching 'em all" without anywhere near the expense of the card game. I acquired starter decks as presents from friends and unwanted spares from whoever had them. Then my school had a major problem with cards being stolen or sold on premises, not to mention all the obvious distraction they caused, so they were banned under threat of confiscation. Funnily enough, I was one of very few who had interest in playing the actual card game, but nobody else did and so I never played a round in my life.
The video games on the other hand... well, my parents bought them for me so they clearly didn't mind! The fact that it was an imaginative and fairly non-violent game helped, especially as the simple "try your hardest and work alongside your friends to achieve your goal" message could only be beneficial. They even took me to Manchester to download Mew, and my mum sat through the nigh-unwatchable first movie. The cartoon (this predates anybody in my life including myself being familiar with the term "anime" so we all called it a cartoon) drove them barmy because I would watch the same Kanto episodes over and over again on Sky1, and the kiddie playtime and conversation was so Pokemon-centric. One time I demonstrated to my dad how the game worked it seemed to dawn on him just how much thought and strategy goes into the series. They didn't object to the series at all, just made light fun of it and likened it to the Star Wars and Thunderbirds crazes of their youth. Fads like South Park were considered far worse for 9-year-olds back then.
Nowadays... well, they know I play the games and even people who don't play the games knows their reputation for excellent quality. The anime is a guilty pleasure and probably best kept that way; sometimes if it comes up I'll say that the show ties into the games and I dip in and out. The TCG... well, I see them sold but I can't remember the last time I saw a kid holding a fistful of Pokemon Cards (that was like the iPhone of the day- if you didn't have a massive stack of cards in at least one pocket at all times, you were nobody) and in the UK the Pokemon craze doesn't really show its face apart from the major game releases. Still, when Black and White came out it seemed many of my nostalgic peers at university were suddenly back into it. As for my parents... well, I'm not on drugs so they're satisfied enough.