Yes. It probably helps that my family, and my wife's family, are all several thousand miles away and we just had our first child. We spend a lot of time on both FB and Skype, keeping everyone up to date.
I guess the other consideration is that facebook at least has some semblance of privacy, which is reassuring when posting photos and videos of someone too young to consent (or talk, for that matter).
Pictures which the person on it will likely be really ashamed of in a few years.
Even though babies might look cute and you kinda might have "created" them, they are real people, not pets or lifeless objects.
The same as you can't post pictures of a random person without their consent, you really shouldn't post pictures of your child. Leave the posting of their baby pictures to them, once they are old enough.