Personally I don't like Facebook, however I'm not entitled to an opinion because I don't have an account.
So let's start with the good, it allows you to communicate with friends over long distances, making out of state/country relationships less dificult, (A phone does this too). One thing that it does do that a phone can't is you can meet new people, this is great if you are a people person (unlike me). But it also allows people to coordinate mass events easier than a phone, but I would prefer a videochat. As you can see I'm very biased, however you are entitled to your opinion, so I won't bug you any longer.