mySpace is, on the surface, something like Friendster. But for lack of a better way of proving its worth, suffice to say that it's the only hyper-successful networking site out there, with over 17 MILLION members.
That being said, let's face it: on the surface, it is predominantly a friends-networking-for-dating site. However, a lot of indie music groups use it for getting their name out there too.
And, unsurprisingly, a lot of girls wanting to get their name (or various body parts) out there for recognition and fulfilling their dreams of becoming an actress or model have also found mySpace to be a very viable networking medium.
As for me, I'll be honest: I actually AM networked through a lot of my "real life" friends on there; and truth betold, I've actually made a few new good friends through the service (mostly UCLA students though, which is why we were comfortable meetnig), and believe it or not, my ex-girlfriend as well -- though also a current UCLA student -- again the familiarity definitley helps in breaking down any barriers of concern with meeting people online.
That about sums it up as best I can manage in so little space.