From what I understand, it's not an easy process and you can't download important stuff, like your social graph (I think you only get plaintext names, not email addresses, etc.)

It's a one click download. OK, actually two clicks, but it's a very clean, unconfusing process. https://www.facebook.com/download/

Not to mention the graph api. They're very good about giving you all the information you as a user might want (photos, links, messages, wall posts) What it doesn't give you is the kind of data that a competitor might want.

You should try it. http://www.facebook.com/download. It's basically a two-click process.

It gives you most of the data you'd be interested in as a user (photos, videos, messages, wall posts). Not so much the data that Google might want, like a easily importable graph. But for everyone else, it's really useful.