There is this growing group that preach "all Facebook...all the time" and they are dead wrong...for right now.
We like to think of a well constructed website as your business anchor. The place where people can go and learn more about the depths of your business, your offerings, how to make contact with you and what you do. This same website, if constructed well, can help you increase sales through e-commerce and be the rock that you tie your social media adventure...to.
So, no...build a great anchor, a fantastic port...and then use SM to connect with consumers, to listen and to drive people to "The Mother Ship". Someday it may change...but not...now.