Twitter has it's place, but in many ways I think it was just a fad and will eventually die off. It's TOO simple for many. Not really a social network in the sense of others, but it does have it's place. I use it (rarely), but I do use it.

Facebook? I spend a lot of time on it. Actually we do some advertising on there and it generates quite a nice little batch of new customers on a regular basis. I prefer Facebook over MySpace as you're not being forced to see custom pages, music, flashing graphics etc etc. I use it for tracking various bands etc that I like, but beyond that, I'm never on it.

I expect to see some dropoff of MySpace and potentially a sale before the stock/worth of the organization drops too much.