Is MYSPACE.COM a useful tool for networking?

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I use my myspace page for blogging whenever the moood strikes me but Im starting to really take a second look at myspace and see its potential. There is things I would like to do like get recycling stepped up in my town, politics and my interests like moutain biking, hiking, tennis. Has anyone on mylot given it a chance and had a good experience meeting people with similar interest?