Is it really worth the effort?

A lot of the class participants have mentioned that they struggle to cope with the amount of information and the sheer scope of tools that Web 2.0 and social networking offers.

Reading this article makes me wonder if it is at all a viable and valid use of our time to set up, and indeed go through, multiple networks as we traverse the web in search of human resources.

I've heard employers often look up prospective employees' facebook accounts to check what they've been up to. I have no idea whether this is true or not. Yet, how far do we stretch the HR department's resources?

Should we only stick to professional networks like LinkedIn?
Should we stick only to our rolodexes?

I see the usefulness and importance of being able to connect with someone at a distance.
A rolodex may not be as useful for non-local contacts; or perhaps, the rolodex will only include contacts for people you've actually met, closing down the chances of you finding someone equally qualified, only because you've never met them.

What do you think?