FB is not really my thing but I (too) think you guys are doing some cool and fun stuff. Keep at it and let's see the next killer startup come out of your dorm!
BTW, if you all need some help with doing the whole geolocation stuff locally on your own server, let me know; I'll be happy to do whatever I can. (We just floated this site - a small by-product of a larger project we're working on: http://IPLoc.info )