Facebook is ok if you use it sparingly. I visit once a day.
I only accept Friend requests from family or friends close enough to be family.
It's a way of seeing all the babies in the family as they grow and keeping up with the news. Instead of seeing some of them only once or twice a year.
A picture can be worth a thousand words.
If you learn to use the "Hide" option for games, annoying sites people like to link to, etc it becomes a nicer place to visit.
I find it strange people who have hundred of "Friends", including people they barely know or in some cases don't know.
So basically it is as nice, or as annoying as you choose to make it.