The social tools of the net do not create collaboration, that urge is hard-wired into us. The net simply removes the barriers, and changes the rules about the means.
Now we no longer have to be able to have personal “face time” be in the same geography, or even share anything beyond the single purpose of the collaboration to make collaboration work, but I am yet to see an example where the collaboration is optimised without that face to face element.
Humans are social animals, so there will never be an adequate 100% substitute for the face -to-face interaction that enables the emotional connection so important to collaboration.
SM tools offer a huge benefit to enterprises of all types, but they are not the end, just a far better means than we have had until now.
The latest offering is Pinterest, which has come from nowhere in a very short time, the early adopter crowd are figuring out how best to use it, but it is just another tool to add to the box. It has its uses, but remember the old adage that if you want to drive a nail, a screwdriver is not of much use.