The publisher I work for has a book out now by this title. I've scanned through it briefly but as in all things technology related, I prefer to just dive in head first and figure it out.
I know very well how the social networking sites can be dangerous for children and a huge headache for parents. Here's something you parents might want to look in to. I admit I haven't looked closely at it but am told it's a way your kids can safely have their networking and you can sleep at night. imbee