Okay, so I'm still on Friendster. Shoot me. I'd improve it with a cool interactive (So Web 2.0!) mind map tool. Your picture in the middle, with your friendsters floating around you in 3D space. Bonus: you can program the tool to give you a "friend fly-by" where you virtually fly through your friendspace in slide-show mode with a cool soundtrack from your iTunes folder.
I suppose it might even look like all those camp movies made to be shown at the last night of camp where people can laugh and be embarrassed at the crazy stuff they did all summer. Who knows. I just want more than text and photo interactions.