One of my favourite things is reconnecting with people after time apart. With tools like Facebook, this rarely happens any more. It feels weird not to see someone for a while, then you reconnect in person and know too much about what's gone on in their lives. It takes the intimacy out of the person-to-person conversation of catching-up.
I'd rather get the yearly email update from old friends, than to track their lives voyeuristically through the web.