Its far far easier than myspace, and its more mature. its nice to see old friends again through facebook, its worldwide so you can catch up with people no matter where they are, its simple to create and navigate, there are lots of fun, novel applications and games which you can choose to use or not use, allows easy and quick communication with friends, you can set your own privacy settings, you can use your own name even if someone else shares the same name. You can receive emails to inform you if you have new friend requests and messages etc. You can close your account if you don't like it very easily...give it a go.
Its addictive, can be a time waster when you should be doing something productive like studying. some people take it too seriously. If you don't use your privacy settings people can be nosy.