I can't help but wonder if the "Hide" button has sucked all the meaningful engagement out of Facebook. I don't know about anyone else, but I have about 80% of my "friends" hidden. Over the past year, Facebook has pretty much become a ghost town for me compared to a few years ago.
I'm in the same situation, but unhiding friends to recover sense is just not practical, with all the app-spam going around facebook these days.
I might be the only one in here who can't stand viral-app-spam, but in my social circle there's a sharp division between people who can and who can't stand it, and I think this is in part responsible to the huge drop in interaction in facebook.