The true failing of fb seems to be that in it's quest to be all things to all marketers, it becomes nothing to anyone. In terms of marketing, it still makes more sense to reach out through specialized channels where the focus and function are clearly outlined.
Not at all ... I love getting updates in my news stream from the pages that I'm a fan of, and I'm sure clickthrough rates for those are ridiculous ... add that to the fact that you can share any link that is sent to you through said fan pages and you can see why marketers wet themselves about it.
My contention is with the fact that even though I'm a fan of BOTH Jay and Kanye I have to go to a 3rd page to like it before I can hear one stupid song ... makes zero sense.