Facebook is definitely not a time-waster for me. Even in the instance that I am just wandering through the site, wasting time, that's when I will end up finding something - an event or opportunity of some sort, that I wouldn't have heard about anywhere else.
The only aspect of Facebook I don't like is how other people sometimes use it. Anyone who feels the need to report their thoughts on an hourly basis should start a new facebook of their own - some kind of ultra-facebook. I feel sad for these people and then stop wanting to be their friend, even in real life.
Nowadays, it's the promotional potential of Facebook that impresses me. Being able to "Become A Fan" of certain pages and get regular updates on events is really useful. And the ability to announce interesting opportunities, and the possibility of finding them, to and from people I generally respect, is a really good thing.
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