Social Networking And Dating Online… How Reasonable Is It?

There are uncountable websites dedicated to match making, dating etc. We all find social networking sites such as myspace, hi5, tagged etc very interesting and almost everybody have a profile in at least one of those sites.
Is it realistic to find a true match online via these sites? What is ur opinion? Personally,

Will Social Networking Destroy The Online Dating Industry?

Online dating: join for free, pay to contact. Anonymous.
Social networking: free of charge. Not anonymous.
Will social networking service enable users to find friend, dates, spouses well enough that the industry of online dating will become much less attractive?