Social networking sites, when used objectively as an online meeting place for actual friends, are a great facility.
As far as Facebook is concerned, I'm told that there remains a privacy policy issue...but I cannot find out exactly what that issue is. Not that I'm desperately worried about it. Either way, I don't have any constructive thoughts to share. So I'll leave it to the following YouTube links. I got a giggle from them...maybe you will, too.
http://www.youtube.com/watch?v=KV4PNwpqsCc
http://www.youtube.com/watch?v=8UouP8cRYZ8