Most of my friends that would be the most likely to use it think its lame. But these are the same friends that didn't like facebook when it came out and they are on facebook now. It would use it if more people i knew used it.
Also, as I'm in Australia they won't send me SMS's anymore. They did for a while but seem to have cut it off.
Take a look at Twhirl. Connect up with Ping.fm and friend feed.
Suddenly the internet feels a lot smaller because I'm able to quickly connect with many of my friends.