Social Media and Small Businesses

I just read an article by Gene Marks about small businesses and social media. Gene is a CPA and an author of a syndicated column, "Penny Pincher's Almanac." In the piece he suggest that social media has its costs for small businesses. He makes a good point, but also believe that the article does not go far enough. In a response to the article at http://www.businessweek.com/technology/content/may2009/tc20090522_078978.htm I suggested that there is some good numbers supporting that social media can be an effective strategy. Should it be the only strategy -- no. Are there other tactics/programs that should be considered separately or along side social media -- absolutely.

I would like to hear who is having a good experience with social media as a means to reaching small business owners.