I cancelled my Friendster account. It seemed like a Cool Thing To Do at the time.
Their ads pushed me over the edge. I logged in and there were links to articles about how to pick up women, etc., and banner ads all over the place. I don’t want a place that cash-strapped to have my permission to keep my personal information.
Maybe orkut’s next… who knows. I don’t think they even give you the ability to cancel.