Online people like to talk in absolutes and often ignore the obvious. For example, there's an assumption social networking is great and will add value to your business. It isn't and it won't, at least not in and of itself.
Don't take my word for it, hear what Seth Godin has to say.
I love it when clever people put into words something that I'm struggling with. Of course I can see the power in social networks but as Seth seems to suggest, it's about quality not quantity. It's like life. How many real friends do we ever have in our lives? Not many, not real friends. It's no different online.
Friends, followers, buddies, whatever......