The cool thing about Del.icio.us is it means you don't need to bother backing up your bookmarks when you buy a new computer. I've lost my browser bookmarks several times due to changing computers/formatting harddrives and forgetting to back them up.
It's also quite good as a directory of popular websites. You can find the most popular websites on any particular subject.
The main drawback of it that I can see, is that you're giving a lot of information about your interests to a corporation who will be using it to construct marketing information. Although, in return, you do get a free bookmarking service.
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