will another facebook site be succesful?

Why not? I think you should continue with your plan and perhaps add more applications that Facebook doesn't have so it will make it more desirable.

 

And the chances of surpassing Facebook's traffic and user base, slim to none.

 

I agree. Plus you're competing against people who have access to a lot more money than you. Just take Wayne Lineker for example who's a multi-millionaire has connections all over the world owns a bar chain that's worth an 8 figure sum and I don't even think his social network will ever really get anywhere. www.waynesworld.com

 

My suggestion would be to diiferentiate- Target teens who don't like parental spys.