If you use it properly (read: non-obsessively), it's a great way to keep connected with people you've known in the past several years. Without Facebook, I would have lost touch with a lot of people, whom I could now communicate with easily when I need to. I gave up the day-to-day "social" aspect of it a while ago, but for keeping connections with past high-school and college friends, there isn't a better way to keep the doors open.
That being said, if I was paying for the service, I'd hope they would open up their data (for export) and give a few more bells and whistles for the money.