Originally a person's page only showed their name, info, interests, etc. After numerous layout changes, you can now see what "actions" a person has made on the site, as well as add applications that serve no purpose other than to cause Java and Flash Player errors, and make the site more corny.
Despite all this, it is still commonly used for procrastination as well as stalking.
v. To facebook someone is to look them up and/or request they be your friend.
Betty: I tried, but there's so much crap on there now that it takes forever to load.
Random: Hey, did you guys check out the pictures I posted of my friends downing vodka and passing out on a couch? Man, college is great!
Girl: Last night I didn't get any work done because I was looking at facebook all night!
Girl 1: I found that really hot guy from our history class on facebook last night!
Girl 2: Really?!
Girl 1: Yeah! His name is insert name here, he's in insert classes here, he's single and is looking for a relationship, friendship, dating, random play, or anything he can get! (options under relationship status and what one is looking for)
Facebooker 2: wow. I really didn't need to know all that.