I think FaceBook might be nearing it's peak real soon. I personally deactivated my account last week. So sick of everything I do getting echoed to my wall for all to see. Does everyone I know need to be told that I just wrote "love you Justin" on Bieber's fanpage (not seriously, but if I was a closet Bieber fan - I couldn't keep it secret). Also really sick of hearing about those places checkins. Some of my friends were doing 20 checkins per day (at home, coffee shop, work, lunch etc ad nauseum). I would like to keep them unblocked for when they've got something to say or share, but in keeping them on my feed I'm tortured by all this places bullshit. And why don't FB want to allow you to hide stuff like that? Because it would mean you spending less time on there viewing their ads.
The key difference between FaceBook now and how it was say 5 years ago, is that back then they wanted it to be all that it could be. To be all that we wanted it to be and to offer us all of the features we wanted and functionality we wanted. Now though it's a corporate giant and it's all about revenue. Zuckerberg himself has less than 20% stake in the company so how can he (even if he wanted to) have a majority say in how it's run.
We've seen how rapidly MySpace declined. FaceBook has the power to remain in the lead position, I just don't think they have the motivation to do so. They're effectively like a drug dealer that will happily sell an addict enough heroin to kill themselves. A clever one would ration it to just enough to get their fix and keep them coming back (alive). Same deal with FB and their lust for advertising eyeball views. They're so keen to keep you coming back for hours and hours that they don't realize they might "kill you" in the form of you getting so pissed off with it that you quit cold turkey.
I did it and haven't regretted it for a minute.
Oh one more thing. I found it inexplicably saddening when someone I know very well (in person, not just a cyberfriend) unfriended me. Sometimes someone would appear to have unfriended you, but when you searched and didn't find them, and you saw that they were gone from all your other mutual friends, you then realized they just quit FB (I counted 5-10 that have done that). But the sad thing is when someone you've spent many a fun time at work, at play, having beers, playing poker, meeting their spouse and generally being proper friends. When they unfriend you but haven't unfriended a few dozen mutual friends. You can't help wondering wtf did I do? It ends up occupying your mind for at least the rest of the day. That was the straw that broke the camel's back for me. My last unfriending.
I'm still in linkedin.com and yammer.com because they're more worky/businessy related. If I do join another social network, or even go back to FaceBook, it will only be if they give me the option of controlling every single item in both the incoming news feed, and what gets written to my wall (by me or by anyone else). Let me control every single possible thing, and I'll be back. I can't see it happening though, they're not intelligent enough to see that. Despite the many thousands of people and groups calling for it on facebook itself.