Facebook...virtue or vice?

One of my friends recently deleted his Facebook account. He didn't say why. And it's caused me to wonder what would happen if I deleted MY Facebook account. Let's examine the pros and cons of Facebook:

Pros:
Facebook is great for...
-Networking
-Sharing pictures
-Inviting friends and family to important and recreational events/activities
-Keeping in touch with people.

Cons:
-It's addictive for many people.
-Can become a time waster.
-Gives people access to your information (granted, there are security settings for preventing this)
-People can post ugly pictures of you. (this one really isn't too important, yet it happens frequently)
-It's an easy way for people to digitally stalk you. (ex-boyfriends/girlfriends, creepers, other people)

That's all I can really think of for now. I guess I can add to that list later. Feel free to comment and I'll add yours to the list too.

So, what good things would I be missing out on if I were to delete my Facebook Account?
-Status updates that tell me how my friends/family are doing.
-I'd probably miss a lot of peoples' birthdays.
-People might find it more difficult to contact me since most have become so dependent on Facebook.

I know these aren't really life-altering things. But, they do affect my social life. It's kind of nice to see how my friends who have moved away are doing.

In conclusion, I think I will keep my Facebook Account for now.