That's how I view Facebook. Twitter on the other hand is rich with useful information.

Sure, that's one way to look at it. But the more people you follow (seriously, who in their right mind would follow 50,000 people!), even noise gets noisier.

I think a quick and neat workaround would be to assign "importance" levels to folks you follow. For e.g. @billgates might be a '1' whereas @amanda9875 might be a '5' - so while you get every tweet @billgates sends out, you might only get every fifth message @amanda9875 tweets.

What gave you that impression?