Recently for a class I was asked to create a LinkedIn profile. This was fairly easy, because I already had one. I do enjoy the experience on this social media website for professional use. It has certainly done well keeping that focus. You can meet a great number of new people in your industry, and at least get introductions to new people.
I think groups are a little awkward on this site, but they are very useful. Keeping yourself in a way locked down with constant email updates is a good idea. Some of the feedback I received was useful; as well as the information. Recommendations are a great way to get you noticed by those that use the site for job hunting/posting.
As more people use this site for finding employees, I think the site will reach its full potential.