Yeeeeew, it’s not just me that thinks “social media” is completely overhyped.
Just saw this post on Problogger where a guy goes to town on Digg. And rightly so.
And I think you can substitute Digg for many other social websites there too – but that’s another story.
“Social Media” sucks for traffic generation – it’s not worth your time or money

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Hi Andrew,
Digg for me is just a small piece of the puzzle. With a new site, or page on my site i’ll digg, stumble, propeller, delicious it. For nothing more than a quick way to get indexed.
Id say most IMers are the same. Any savvy marketer knows a digg visitor isn’t even worth the bandwidth they use.