Facebook is a social networking site where everyone is spending their extra and i might say valuable times. Because even when office hours people quietly facebooking. 
But do you know that there are rumors spreading that people shoud stop using facebook. Such as, facebook doesn't support the open web. Some said that facebook is pulling a classic bait-and-switch, that they get you to share information that you might not otherwise share, and then they make it publicly available. Facebook CEO's has a documented history of unethical behavior.And lastly their terms of service are completely one sided.
Above all those rumors, it is still you that can decide on what you want to do. Because even me, i really enjoy facebooking. It give me updates on my long lost friend, etc. So still undecided if i will delete my account or not.