I find it useful in the sense that I have 3 brothers, 2 sisters and a ton of nieces and nephews...and they are starting to have their own little pile of critters...
And, I found out that I have at least 3 nephs and one of the nieces involved in overseas actions...one in Afganistan, two in Iraq and one on the USS Carl Vinson.
As Bot said, it's a tool. If you want to expose yourself, there's plenty of ways of losing your identity...start playing all those "Farmville/MafiaWars" games...or watch out for the "Can we dig in your home page?" pop-ups.
I delete and keep the personal security at a fairly high level.
Don't *click!* on anything you didn't ask for or recognize. If a "friend" sent you something...call said "friend" to see if it's true. If not, delete it, but don't *click!* it and go there...
Just a warning...