MktgRob 7 Nearly a Posting Virtuoso

Mashable is reporting that despite recent innovations and a new CEO, MySpace has lost almost 20% of their unique US visitor traffic since June. This equate to a serious loss of income for their parent company and while Mashable states that the site will probably not disappear totally it is losing its relevance (or whats left of it).

Can anything else be done to stop the freefall and restore some of its lustre? Admittedly, I have never used MySpace but I would like to hear from people who have or still are.