In my opinion, Myspace is really a great platform to market products of some particular industries ( entertainment industry mostly) that goes with the theme of lighter theme of a social network.
Something that works great in Myspace is viral marketing-create a hype with a widget, or a photo or album or anything that small and get that circulated among friends and groups.
But something I'm not quite sure of is how do the myspace URLs get cached? It is apparently dynamic in nature with their set of query strings.