Social Network boom or fatique?

Social Networks are going online now at a rate of over 10 per day.

Established networks like Active Rain, with a proven track record and purpose, have demonstrated a loyal following. Many new social networks, like Pownce, have already bit the dust.

We launched our Social Network a few weeks ago for Myrtle Beach, SC. Since that time we have witnessed several new sites being launched.

While universal passwords are coming to help, it is obvious that a few good national and local social networks will thrive and many other ill conceived concepts will bite the dust in this new shakeout.

What's your opinion? What is the future for Social Networking? Is it a good place to get your name viral?