I de-activated mine 8 month ago for exact same reasons. I was an addict and was wasting my time away. Felt so librated afterwards. My acocunt is still there but I do not think I will ever go back to it.
This does not mean I do not miss things about it. I have lost touch with friends too and it is hard to keep up with emails/texts/calls…and also I miss out on events/social gatherings going on around the city. However in the end it is not worth my precious time being wasted away 
P.S. I agree FB is big time gossip hub and everything people add on it now seems so superficial.