Can't speak for anyone else, but Facebook for me is invaluable.
All my social circles use it like crazy, and since I'm a musician it's a great way for promoting myself.
This combined with me being a very social being, creates huge social proof and value for me. The key is being creative, for instance...
I'm a bit of an attention whore. Last week I was really ill, and my life basically sucked. This was bad, as I wasn't meeting any friends, women or keeping my social proof in action.
At the same time, except my closest ones I couldn't just tell people I'm terribly ill and dosing a medicine. That's a huge DLV.
So how did I solve this?
I'm making a series of funny vlogging videos. So I made one about me being really ill, but not caring and doing crazy stuff instead.
The result?
People thought it was REALLY funny and complimented it, but ALSO felt really sorry for me being ill (including my main target). Not only was it a DHV - it also gave me my fill of attention.
A shorter example is that I have a fake relationship on Facebook, for shit and giggles. Not only is this a great way to game the one I'm having the fake relationship with - it triggers preselection and social value.
And that's the magic of Facebook. To archive your successes with life and women, to keep the ball rolling. I could go on and on, but I'll stop here.
Only use it if you're sure you can convey an interesting lifestyle.