I just read a great blog post by Kyle Flaherty at Engage In PR. He isn't the only one talking about it, but his post struck a cord with me. There is vast amounts of information being generated from social media (blogs, twitters, events, wikis). It's overly time consuming to read and interact with it all.
We here are Strategic place a lot of emphasis on work-live balance for our staff. We feel strongly that we best serve our clients by not burning out the employees with 90 workweeks and back breaking scope creep. We are not a "smile and dial" agency that spams reporters with context-less emails. We focus hiring staff with long experience and a deep understanding of technology markets and putting them into a position whereby they can leverage their knowledge to provide the highest level counsel and most efficient execution for our clients.
However, the growth of social media implies that, not only is there more information outlets to monitor, but you have to interact with them in a meaningful, value added way. And...you must generated your own information and communicate it clearly.
Oh, and do your job too. Oh and maintain relationships with family and friends.
All this implies to me, at least, that there has to be a diminishing return to social media, as people's attention is limited after a certain level of interaction is achieved. Where that point is located is different for each person...but it's definitely there.