Aww he is so cute !!
To be honest... the level of exercise will depend on the dog himself.. and sometimes i think people buy a 'working' dog and think they have to excercise the hell out of it. They can actually make them into high energy, highly strung dogs (ie, the more exercise, the fitter the dog, the more exercise it takes to tire them out!)... just work out what is best for your pup. My kelpies are very laid back and dont require the level of work some people think they would. Kelpies fit very easily into people's lifestyles.
Thanks guys for your advice and kind words. He certainly will be loved to bits, which is great considering his humble beginnings!