I was out of the country on my 21st. Since I could drink all the time there anyway (don't really remember getting carded), my 21st wasn't that big of an issue to myself or my friends. I think I might have had wine with dinner--and that was pretty much it. Several of my roommates turned 21 that year, too--no one got "drunk" in the same way that our Stateside counterparts did.
Perhaps my decision not to drink myself into a box came from my upbringing. I wasn't taught that alcohol was BAD, but that it was okay in moderation. I had plenty of cautionary tales growing up about how bad it was not to be moderate in my drinking choices--enough alcoholics in the extended family will do that!
So, if you're very concerned about your child overindulging, encourage moderation, and get that kid out of the US before they turn 21!