If you are willing to put the time into raising your dog, all the negative points above can be avoided.. But you have to work at it and be consistant..then he will be the best dog you can ever get.
Socialization: big issue for gsd's start taking them out around people and dogs as early as you can, and dont stop, have everyone that comes over pet him. always.
training:start him in obedience training at 5 months. you will learn how to teach your dog to listen to you and your family.
exercise: plenty of exercise is necassary for gsd's they are herding dogs.. but if you have a decent size yard and other dogs for him to play with, this sorts itself out
I have a 6 month old black and silver, and a 3 year year old daughter. they are best friends!
my pup can sit, down, stay until recalled, heel, sit stay, down stay, stand, recall 50 feet (still working on recalls)
is socialized well with other humans and NEVER goes through a doorway until after i have gone through. and when we go for walks my 3 year old daughter can walk him and he stays even with her on her left side..
It just takes dedication. gsd's are working dogs and want to work for you. you just have to guide them.
It will be like raising another kid for a while, and you will have to keep an open eye on him always.
I guess it is also tru that you can get a bad apple gsd, making all my points invalid too lol
but with dedication he can be the best dog you can teach him to be.