I too am amazed at what some people are willing to have floating around. I keep my profile 'potential employer proof.'I shiver thinking what people put on their facebook page: drunken pictures, job-related rants, personal addresses, etc. It's a disaster waiting to happen.
When the 'younger generation' starts running for congress and other political offices, you can bet we'll be seeing crap dredged up from facebook.
I've got you beat. No Facebook, No MySpace -- I do not 'lol' with my 'bff'.