My opinion might be a little biased... I just discovered FF recently, and I must say that I've been thoroughly impressed with the service so far. I've been spending an increasing amount of time on it every day, and It's most certainly a breath of fresh air from the clogged mob-congestion of Twitter.
So apparently someone at Facebook realized this and decided to join forces.
So what is Facebook after? Absorbing the competition? I don't think so. Did you know FriendFeed is operated by only 11 people? and it rocks! That's definitely 11 people who are extremely talented and know exactly what they are doing. Something Facebook needs. They have been trying to put something together that works as well as FF for while now. The two merging might not be that bad, as long as FF marches on. My last favorite social site, Pownce, was shut down when Six Apart purchased them for the creation of Motion – an utter failure.
Luckily, the two companies announced today that FriendFeed will continue to remain a separate, fully functional entity from Facebook. Facebook will be integrating features of FriendFeed. Good news! Lets see if it happens.