I don't have a myspace, well, actually I do, but I've never added anything, I only registered so that I could look at other peoples. I would never have a filled out myspace because anyone can see it and everybody friends everybody.
I do have a facebook. Why? Because I like the privacy features it has to offer. I only friend people I've actually met. That's why I'm not part of the RO group that I know exists on Facebook, sorry, but as well as we seemingly know eachother, you guys are still strangers and I wouldn't friend any of you.
I find it is a great way to keep in touch with people like those I met in NY this summer that I may never see again, but that I still consider my friends.
That said, my Facebook is entirely clean. Why? Because I am what some may consider a boring 17 year old. I don't drink or smoke, anything. The strongest drug I've used is my vicodan I was on with my Wisdom teeth out. I'm a rather conservative dresser. Basically, there is nothing I do that you could take pictures of that would come back to haunt me. Yeah, there are pictures of me being weird, but those are me with my temporary beetle tattoo on my face or me jumping up in the air, nothing I'd fear having a boss see.
I'm not so sure that I think it's a boss's right to look at a facebook, but I don't think it's the right of these young adults to do what they're doing that comes back to haunt you.
Moral is, don't do anything you wouldn't want your grandparents, priest, boss, principal, etc knowing about and definately don't photograph it for the world to see.