I don't feel like facebook does what LJ does. It feels like there's no room to really talk about things at length, which is how I maintain that sense of connection to people. I don't really care when people walk their dogs or see a funny clip, or have started their taxes. I want to read their page-long ramble about what this thing that happened means to them, or have a long back-and-forth exchange of opinions on a topic that is real and important.
I don't feel safe with my status, because I can't find that there is any control over it, all people on my list see it. So it must remain shallow, non-controversial, and appropriate. (Doing anything else with essentially public space seems like future professional suicide.) The rest of the Facebook tools seem very difficult to use to create the sort of safe spaces with select people that I would use for sharing my thoughts.
I joined facebook finally to get back in touch, but so far it's a pretty empty experience.