Paul,
My team (857) is run by multiple college students and high school students. We try to make it as "student run" as possible, but college students - our only mentors - take care of the financial stuff, travel arrangements, meeting times, etc.
This is a tricky subject because there *is* no right or wrong answer on how to run a team. There may be "better" or "worse" ways to run a team, but it really depends on the participation of all involved.
When I started on my high school team, it was very student-run. But then those students graduated and there weren't enough people to step up and fill their shoes. So the adult leaders of the team stepped in and helped us. They didn't take over, but their increased participation allowed has the team to flourish.
Even with everyone using the same RC setup, teams still botch it in many creative ways. - Wetzel [more] 
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