Shikamaru, here's my facebook commercial..
I have 3 facebook accounts.. each one for a different purpose.. the one I connect with online friends (that is people I don't know offline) is only for online activities like commenting on news articles, signing into other sites (like Destee.com) and it's registered with an email account created just for that purpose.. there's no personal information contained in the registration for either of those accounts.. it is possible to maintain your privacy and still use Facebook.
I have a family account that connects me with my family members in several states across the country and also to family members in Cameroon and in Japan.. it's a wonderful way to keep up with each other.. and to communicate.. and when necessary to coordinate activities.. Family Reunions, family visits.. etc.. We have even been able to use it in emergency situations to have a family member go check on another family member.. It's really been useful for me to connect with and advise some of the young men in my family. The facebook connection has been a unique way to interact.. and it also gives you a glimpse into how they interact with their peers.. it lets you see where their heads are.
I also have an account just for Friends.. old neighborhood friends that I went to elementary with.. military friends.. and new people that I meet.. by keeping my accounts separate, I maintain my privacy and still get the benefit of the technology.