khaaan, About 4 years ago I hated my job. I sold food to restaurants for a company that pressured me daily to develop tight bonds with customers and then charge as much money as I could for products. I was good at it, but I HATED it. Loathed it. One of my friends told me to create a LinkedIn account and post my resume there. I did. About 3 months later I had all but forgotten about the LinkedIn account, when all of a sudden a recruiter contacted me. He had seen my resume on LinkedIn.
I actually think LinkedIn is a great idea and can work well for people in the professional world to network. It is NOT a social site, it's a professional site. That said, I have had a number of people from High School try to "connect" on linked in and their job title is "domestic engineer" or "bible study teacher". While both may be interesting pursuits and perhaps even important, depending on your stance, they're not appropriate for LinkedIn. What I've seen of late is the Facebook-i-fication of LinkedIn.
I love my current job and I would have never found it without LinkedIn, an ambitious sales recruiter and about 4 interviews.... but it all started with LinkedIn.