I personally do not use any kind of Facebook connect on my site as its a niche site for people with Herpes and HPV. Its not really the kind of thing you'd want to get updated publicly on Facebook, so I haven't even installed the module.

I can see the benefits for having it if the site was of a less awkward subject and for that reason I think it is worth developing a way for people to use your own status updates or forum posts or even blog updates, for example, and try to have it appear on their see more Facebook profiles as this would be great advertising for your own site via the grande old stage that is Facebook. Just don't get in too deep cause if they do go down then you don't want to go with them.

If you're trying to compete with Facebook then you are wasting your time. As others have mentioned, do what they ARE NOT doing and do it well. Better chat and IM would be awesome, and think about the needs of smaller, more specialised sites or niche sites. They will be your bread and butter.

And look after them, don't neglect their needs and fix all the bugs..............quickly. K.I.S.S.

Maybe one day, Facebook will go the way of MySpace but not any time soon. They have strength and money behind them which is more than most of us have (Yet).

So use Facebook to grow your own site, while you can.

10% of something is better than 100% of nothing.