Watched parts of this last night. Frontline has a new program called "Growing Up Online." You should watch it (which you can do via the site…very cool).
It reinforces many things I have picked up from previous research into Generation Y and their communication habits. What struck me most is right at the end, one of the recently graduated high school seniors talks about the way he needs to unplug for bit because it is too much to deal with. Wow.
It will be interesting to see how this plays out in the future. Is it possible that we will exhaust our on-line preoccupation? I now rarely use IM, email is broken for sure, and text messaging works best for close contacts.