We've heard it all before, but I think the real value of Facebook is the "Social Graph." Most services are more interesting when made relevant to your social connections (e.g., Flickr, YouTube, Yelp, Games). Facebook Connect does this pretty well, especially considering how many people are on Facebook. Facebook.com is a bit of a headache at times with status updates, unnecessary app notifications, and a generally increasing noise level (aside-- anyone else notice this lately? the 'home' feed is much less customizable or interesting than before.). Also the monocultured look and feel of Facebook.com is dull at times. But importing Facebook friends into Yelp, fantasy sports, Netflix, Xbox Live and other services would be really useful and convenient for me, I think, in the long term.