Is Facebook the new kid in the block, in the recruiter's arsenal toolkit?

To assess the true impact of facebook and other SNW sites, on recruiting, I scoured the internet to find out if there is any research related to how recruiters are using facebook or SNW sites.
I found out this very interesting article touching on that topic. Click here for Article.
A study conducted on the college campuses in Indiana, Illinois and at Auburn University is asserting that facebook, and potentially other social media as well can be used to assess a person's potential job for success.
In this study a group of moderately trained evaluators could better predict success after spending a few minutes on a facebook profile than could a self-assessment of personality traits often used by industry.
What's even more interesting in this study is that evaluation team was able to assess the facebook profiles of the volunteers on the so called Big Five personality traits - Conscientiousness, agreeableness, extraversion, emotional stability and openness often used in pre-employment assessments. The researchers were able to conclude that a few minutes the evaluators spent studying each person's facebook data produced a correlation to job academic performance that was consistently better than standardized self-assessment tests.
But the author's are also quick to warn; "“We suggest that SNW-based personality assessment may provide a useful tool for organizational research, but only if further validation research is conducted and consideration of legal risks fully considered.”
 In my opinion, this study reinforces my believe that with the advent of the internet especially in the SNW arena, recruiters are provided with another tool in their toolkit arsenal to be able to make informed decisions when it comes to recruitment and selection.