Part II... Is Twitter the soup du jour?
I think most people underestimate Twitter as a publishing platform. It's not necessarily social (read: friends, family, chatty) like Facebook (which of course has other applications too). What it is is an effective news feed, a way to get information out to a varied bunch of people to make it relevant. It also works well for real time conversations (as opposed to more static blog or message board comments). And who knows what other ways it can be used. The initial perception of Twitter was that it was a way to update on every mundane thing you do... that's a waste of its potential. The NY Times had a story about how Twitter only has a 30 percent retention rate (as opposed to 70 for FB). I posit that's because so many of those new users don't really get that Twitter works best as a professional tool, rather than a friends and family fun thing. They think it's going to be Facebook on speed, but it's not. Followers aren't friends.
A big question, I think is when does social media exhaustion set in? Remember how we all went nuts over email when we first got it? Then it became work. Then we all started blogging? Then it became work. Social media will become (or already is) work too right?