Seems to be the mantra for proponents of social networking these days. I wouldn't go that far just yet, although this is quickly seeming to become apparent reality compared to using only your experience and/or education to land a new gig, as professional social networking has long been relevant with job-seekers due to the advent of LinkedIn and even stretching to use both Facebook and Twitter as networking tools within the workplace. Not sure how well the latter two have worked out in that category, however. One can only imagine the "over-the-weekend" pictures posted on a coworker's page or how many (Facebook) fans your organization's third-party custodial staff suddenly has.
Network expert/blogger Dave Taylor has posted a great list regarding etiquette for both LinkedIn and professional social networking here.
And for those concerned about potential identity theft, NetworkWorld lists a nice slideshow for safe social networking.
Some of you might choose to take the tried and true self-help book method to find a job or a guide on gaining entry into the downtown social club; there are pages and pages of books on Amazon.com for you to peruse.