Are Socialites Still Networking?

Wired's current feature on social networks brings out an interesting point. Social networks are useful for professional development as well:

Although the field of social networking is a broad one, it basically consists of two areas: socializing with friends and professional networking.

This suggests to me that we should consider to what extent might we harness the features of social networking software in professional community websites. For instance, what might we do here on Kairosnews?