whensmydayoff I think it is very different when you only have one child who is only 2.4yr.
I have two sons 6 and 3 and they play alone together upstairs. It is when it goes quiet I worry, we have a no shut door policy and my stairs open into my lounge so I can hear them.
As ds1 is 6 he is capable of judging situations to a certain degree, he can dress himself, go to the toilet, flush and wash his hands without the need to dispense kandoo everywhere. He can get his own drinks from the kitchen without the need to turn the tap of full blast and stick spoons under the water
He is also the biggest tell tale there is so when ds2 is doing something he shouldn't he is in a rush to tell me
Plus ds2 can also tell me when ds1 isn't sharing or playing fair. I think it helps when your child can talk fully and tell you everything the other one is up to.