Although we think a Facebook page is still a colossal waste of time, we do have to salute their recent move. As of midnight last night, Facebook users can now customize their profile address. The switch sounds like another way for Facebook to emulate networks such as Twitter and MySpace that already offer users customized URLs....but Facebook seems to have deeper pockets in mind.

As users race to secure personalized URLs, the improvement will give Facebook profiles better traction on search engines, people-search sites, as well as allow users to build their own "brand" in the process. Of course, all of this leads to increased advertising potential and greater customer loyalty for Facebook's bottom line. Not to mention that your favorite stalker won't have to go through so many clicks to land on your page.

There's a catch though. Once you pick the name, it sticks and can't be transferred. The fact that user names can't be transferred means that you won't get hosed by someone trying to sell your URL on eBay, but it also means that if you really want to nail your personal or company name, you'll have to be quick as a rabbit come Saturday night.

Hurry on over to Facebook.com/username and secure your personalized URL ASAP. Since the announcement, Facebook has registered user names at 550 a second - 500,000 within the 1st 15 minutes! With traffic like that, we can't help but take our hats off to the team. Nicely done Facebook!!