My daughter has been on this site for a couple years now. It certainly isn't Facebook or Myspace but instead an age appropriate version of such. I've tried twice now to join and because I'm apparently not 10-15 I get booted each time. I like that. However if I have a concern, there is an email address just for parents to find out what their kid is doing! No photos of faces allowed, and all posted material is reviewed before it is approved to post. So, no bullying, no bad language, no dangerous language, etc. No personal information. I like that!
AllyKatzz may be entry page for unfiltered content. After two days on the site, my 9 year old daughter had created another account, without an email confirmation or approval. Kind of scary!