i was a very anti facebook person, but what I like about it is that you can keep tabs on the going ons in the life of those close to you, and vice versa..its frequent interaction or awareness about small things, and that is how real life is.
my issue with email and phone calls is that it is less frequent, takes more effort, and is more detailed so each call is exchange of a large batch of information. its more like a deeper discussion.
facebook, i can tel ppl what I am upto over teh weekend, my view on a movie, some interesting event, and all the ppl see it, I see what they are upto it just keeps you better connected.
my family and friends are spread all over, and I honestly feel that I am better connected to them using facebook than I was before.