I know I would have been mortified to discover that a significant part of my childhood had been shared with hundreds of 'friends'.
The odd picture and newsy stuff every so often is okay, but I have friends who post pictures almost daily of potty training, sick children, tantrums, conversations their children have, funny little mistakes they make and well every tiny detail really.
Its your choice if you choose to share your life in this way. But the lack of respect of the privacy of a child who is too young to choose makes me feel very uncomfortable.