I have no personal info on my page and I don't bother with applications.

Facebooks value is in the users ability to keep track of the movements of ones friends, in particular those with whom one doesn't get many reasons to keep in touch.

My friends on facebook are my real friends, and having them there means it is harder for me to forget them or lose contact with them.

The status update feature reminds me of my friends and what they are doing and allows me to comment as I choose, thus keeping otherwise distant links warm and alive.

I love it.