yeah it one of the best way to market yourself on web world
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My friends used these two social networking sites because they thought that it will in a way boost their profiles and sales (but the result are not encouraging at all), they think that there must be hundreds of thousands of businesses that use twitter and face book everyday, thus comments are soon buried under everybody else comments and every link that are posted are not followed by Google and may even considered as a spam.
Yes and no. If your site is not interesting enough, nobody cares. Lots of time, I think traffic you get is pretty much random, thus low conversion rates. But I am not an expert in this area, so hope I can learn how to optimize the use of it.