Good for you. I deleted mine a little more than a year and a half ago, when rumors started appearing they would change their ToS and privacy policies in a way that would make me uncomfortable using the service.

I've tried to explain to friends why, but the only response I got from them was "I've got nothing to hide". In any case, with cheap/free hosting, I can host my profile page, with information I want to give away.

Some random quote from a comment (slashdot, perhaps?):

"People fail to realise that Google's and Facebook's customers are the advertisers, and the users are in fact the product they sell."