All things considered, we were lifted with the Santa Claus narrative and it was never held by us against our parents. Infact, it really increased our enjoyment of the Christmas holidays. Even when our parents advised us that Santa was watching us all time and when our conduct was excellent we'd get what we requested for, but if it had been poor - then there will be a mass of coal.
Furthermore, the Santa Claus history is pervasive -- on television - buying in malls and stores -- you can't actually move away from it. And if we informed her the truth when she was small she may ruin the enjoyment for additional families. Thus we chose to preserve the great areas about Santa and make the others up once we went along.
And it was fun. Children get so enthusiastic about Santa Claus - they get their photos they write words to him, they keep milk and cookies for him on Christmas Eve. We got to experience all that through keeping the myth and wonder of the Santa Claus history living for our child.