Chat Anyone?

In April, Facebook added a "chat" feature so that you could not only send messages but chat in real time:

http://mashable.com/2008/04/23/facebook-chat-works/

Has anyone used this feature? How do you feel about it? Does it add convenience and value or is it just another add on to all the confusion?

Obviously other developers see chat as a valuable tool as hi5 Acquires PixVerse for Cross-Network Chat.

Is Chat the new Connect?