Is facebook the new yearbook?

Lets keep talking about facebook, shall we? It would appear that the people creating the yearbook for some high school in the USA procrastinated and needed some photos for the yearbook in a pinch. They ended up snagging photos off of facebook to fill out their layouts and once they saw it in print, the students in said photos ended up somehow surprised that photos they post up on a social networking site could be found by somebody more than one degree outside of their social network. Go figure. Firstly, the yearbook editors should be properly sourcing material and not assuming that anything online is there for free use. There are some ethics involved in producing a publication. Secondly the students in the photos shouldn’t be so shocked that others can find their photos if they put them on the internet. Thirdly, is the hard-copy yearbook even relevant anymore; are friend-requests not the new yearbook-signing? Perhaps a sentimental artifact is desired but in that case, is the yearbook in it’s current form the best way to address this desire?