If anyday I wish to build a networking site and provide this feature in that site but then this patient speaks. It says No, i can't do it. Providing update to others is strictly prohibited.
What it says is you cannot do it using exactly the same method FaceBook uses. Have you read any of the possible work-arounds I've posted in this thread?
Also, I mistyped earlier and FaceBook has been serving their News Feed since 2006, not 2008.
Anyway, let's just wait and see if any major sites cancel or stop what they are doing, or if they find a solution rather than throwing their hands up and yelling, 'Not fair! We can't copy exactly what FaceBook is doing... The Internet is over!'
I guess maybe I'm forgetting this is the Internet and the mentality seems to be you should be able to do (copy) anything anyone else does without even thinking about it rather than having to think of your own ideas...