I have tried to reduce the amount of time I spend pecking away at a keyboard in front of Facebook, Twitter, LinkedIn, etc. These sites have a lot of utility, but also can be a HUGE time-sink.
One of the things that I would like to do is to get to the point where I can automate status updates across several social-networking platforms, based on location. If, for example, I am at Stomping Grounds in Ames, I can have some application broadcast that to the world, without me having to update the status message. This would save LOTS of time, as my statuses could be mostly updated without any effort on my part.
Earlier this week, I've discovered Ping.fm, which gets me half-way there. In short, it allows me to update my various statuses from a single text message. Now, I can have AIM, Facebook, LinkedIn, gMail, etc. updated from one location. The site also supports a host of other applications. If you have several social networking sites and are constantly trying to keep them all updated, check out Ping.fm. It will save you TONS of time.
What tools do you use to manage your online social networking world?