I just set up a Facebook page for my blog, similar to what Sarah Mae has for her blog (mine is at http://www.facebook.com/hoperoad). I add a link to each new post I publish. I invited many of my Facebook friends to "like" the page.
I think there are a few good reasons to do it this way:
1) Readers who don't have RSS feeds can stay updated,
2) You're giving your friends the opportunity to become a fan of your blog before they receive your updates (rather than just importing your blog to your regular profile),
3) It can become its own community.
I just set up my page this past week, and it's been a great tool so far.