Social networking should really be called 'anti-social networking'.

Problems with FB:

1) Too many user interface changes.
2) Convoluted user interface (probably why they keep trying to "improve it" and fail).
3) Too many annoying app's which start out as fun but become irritating VERY quickly.
4) It's anti-social. People I know respond much more positively to receiving a phone call, and are therefore FAR more likely to organise a quality social event, rather than a message or wall post on FB.

The only differences between email and FB is fads! There is nothing useful... and if anything it's just a huge convoluted friends-reunited meets email. Friends-reunited died, and all fads eventually die. So to read between the lines FB will die also.

It's like finding a new type of fad alcoholic drink, it's amusing for a while, but eventually the amusement wears off and the hangover kicks in! ;-)

I think people are starting to realise the negative effects of these social networking sites. I use facebook and I enjoy using it but after a while you do really start to wonder if you want your friends knowing 'all' the details about your life (or all of what you put up there), not to mention others who view it (depending on your privacy settings). 

Also a lot of employers are using these as tools (as well as blogs) to find out more about their future employees to get a more rounded picture of what the person is really like.

Well, Facebook sucks, and people are finally realizing that. I guess it's no surprise...

This fad is over. I joined myspace and facebook years ago, only because friends talked me into it. I hated it, and closed both accounts within a few months. I was on Second Life for about 1 week. Without a lot of functional uses (such as youtube), social networking is the lamest "technology" ever. It exists to make people feel better about themselves, feel as if they are a part of something, feel as if they know things that other people don't. Feel feel feel. Give me a break.

The correctly name for the Daily Mail is the Daily Hate.

I dont think interest has peaked so much... of that it's spam, things like this can be blocked with settings. 

It's more than likely people in the UK are fed with the site treating non-US countries poorly. 
For example, few places and Schools in the UK have there own network, take Essex for instance, theres no Essex network. How hard could it be to add more networks?