Funny... most of the people on my friends list I talk to regularly or know personally. Its a good way to keep up on whats going on with them. I also make good use of the groups section to promote my website (cd338.com) and see whats going on w/ other contour & SVT owners on there, plus there are local groups which are good for finding out about local events & concerts.
As for meeting new people... yeah I've done that too. I've made some really good friends because of that site.
-Mark