I want him to grow to be a man who isn't afraid of showing affection, and I don't want to put him at arms-length when he still desires a lot of affection. However, I wasn't raised with any males and I might not understand the confusing signals mothers might inadvertently send to sons. What do you think?
I would not suddenly terminate displays of physical affection with your son. A peck on the lips or cheek and hugs from you are fine, as long as they do not produce discomfort or inappropriate responses from your son. At age ten, he is indeed becoming a more sexualized boy, as his hormones are kicking in. However your exchanges of affection may change, as he grows older, you never need to stop displaying some physical affection to him.
Physical displays of affection between sons and daughters and both their parents are healthy, positive, nurturing manifestations of the love and should continue as long as everyone is comfortable with these displays. Don't be surprised or take it personally if your boy stops initiating these displays of affection in front of his male peers. It may become "uncool" for him to do that soon because boys of this age think they are too old for that kind of "mushy stuff" -- at least in public.