Sure, we all know the terrors of myspace. Especially developers who've been sent to an insane asylum after laying eyes on its HTML sources.
But what's so great about facebook? I joined because of all the hype, but I'm disgusted by it, personally. They began with a great idea and then took it too far and ended up ruining the entire site; so much so that now it's worse than myspace!
And now, unfortunately, myspace is following in its footsteps to compete.
On the plus side, they have less evil Tacoda/etc. ads, but the ones they do have are almost as bad.