I know that myspace uses NoFollow to make sure webmasters don't take advantage of PR and stuff like that. Does Facebook do this too? Is there any type of marketing available for facebook?
you could always try collecting like a million friends on facebook and use that as a base for a mailing list...
I'm not sure if building links on Facebook would work so well since most of it requires access by logging in.
Yeah, you'd just be getting the click-thru traffic from college students. You could build a Facebook App related to your site, or start a really cool group and mention your URL. Or pay for the flyers, although that is almost useless.