I like facebook.  I've lived in lots of places (NYC, Boston, Los Angeles, Washington DC, even Paris for a few months) and facebook is a good way to keep up with people from many places.  I like seeing birthday, graduation, and other pictures and enjoy hearing about friends and friends' childrens' accomplishments.  I keep up with a number of the people I went to VU with and even keep up with several who are there now.  

In the old days, we'd write letters and make phone calls, but those are such time consuming activities that one usually only stays in close contact with a few people.  Facebook is so easy, that it's easy to stay in contact with a lot of people.  I still write letters now and then, but far fewer than I used to.