Sixer.tv
Here is a site which is social networking + Digg based feature for cricket fans..It is based out of Hyderabad.In the words of the founder, the site is doing extremely well in its second quarter of its operation itself !!! Some of the metrics quoted are 69 days to reach one million hits .100 days to reach 2 million hits ..
This makes me think that social networking for the heck of it might not work , unless there is some product based on which a community can be built.