MySpace difficulties

I just watched the Mingle Mingle presentation. Pretty intriguing uses of MySpace by libraries.  Being a high school librarian, I'm aware that - at least in our district - MySpace is a banned site for users of school computers.  I think there's a lot of worries about exploitation, inappropriate photos, and cyber bullying.  Any other school librarians out there use Myspace?  

I also thought it was fascinating to think of this being a very early time in the life of social networking and to think about where it will be in a few years and where libraries will fit into that....