If you talk to college and high school students, they will have a completely different opinion about Facebook than Matt's. For many of them, it is their primary form of communication - above email and oftentimes even cellphones. To some extent, there's a large generational gap on Facebook with respect to its hardcore users. To high schoolers, us professionals "just don't get it."
Facebook came out at my school during October of my freshman year. It's a whole lot more compelling when everyone you know is truly on it, except for a couple luddite hold-outs.