Using FB Connect for Greekdex has (seemed) to be effective. You must consider your audience--Greeks, even at UPenn, are less worried about their "sensitive" data in comparison to a startup that targets techies who are very aware and paranoid about their data.
I wrote about how companies should "stand on the shoulders of Facebook," feel free to read about it here:
http://blog.greekdex.com/post/17396768249/stimulate-the-econ...
EDIT: I made a bold statement out of pride that was relatively unrelated to the discussion.