Social Networking: Better or worse than the real thing?

For my project, I plan on researching and discussing the affects that social networking has on society. Is it better or worse than the real thing ? Some may say better, because some people find they have more confidence interacting over social networks. While others may find it worse than the real thing due to the lack of developed communication skills. Is our society becoming dependent of social networks? Will future generations know how to communicate with one another without it ?