i'm bucking the trend, and staying the hell away from FB. My perspective is that it's a privacy nightmare; folks share stuff they shouldn't be sharing, with people they are or used to be friends with. As if that dude you used to hang with in elementary school that you lost touch with couldn't possibly be a bad guy now (or have bad guy friends), he used to have the coolest Huffy bike that he let you borrow!
Plus whaddya do if co-workers who you occasionally go to happy hour with wanna "friend" you; do you accept their invites, knowing that they'll be part of the same circle as the frat boys you used to <censored> with?
It's a gigantic cluster of too-much-information being too public, and you're dreaming if you think you can ever wipe your online FB footprint fully clean.