I am *all* about Facebook.
It depends on exactly what you are doing and what market you're targeting, but I've been building applications for some pretty big companies here in Australia with some very good results.
But the bottom line is that Facebook is increasingly about businesses finding customers. There is a tom of support for business use.
Pretty much my entire social circle and business network is inside Facebook now, and it has become the hub for a lot of "real-world" event planning => I think the event stuff is the real killer.
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