Sorry it's been a few days since I have written or even looked at this post. Thank you for all of your comments.
Personally, I have not become addicted to it - adding all the apps, playing the games, etc. I just find it fascinating. As for the difference between facebook and my space, I just find that facebook is for the people in my generation (30s and 40s) where MySpace seems much younger.
In terms of social networking, I am very involved in LinkedIn.com which is for the business world.
And Bubblegum, I hadn't heard about that incident, but what I have heard is that Facebook, Myspace and Twitter now have a really hideous virus which is being downloaded into people's computers and sucks up their banking information, so lately I have not been at any of these places. But if you remember, there was an incident in Florida about a year ago where a cheerleader wrote nasty things on her MySpace account and all her "friends" called her to the house of another where they beat the crap out of her (and filmed it for YouTube).
Personally, I am very careful about what I put out on the net (including here which is why I like being annonymous). Have you every done a search on yourself? Seen what is out there or what others have said about you? This is forever - you will never get a chance to remove this stuff from the internet. People should keep this in mind.