Twitter is actually pretty great if you use it smartly. What do I mean by smartly? Follow people that benefit your goals.
Into gaming? Follow Major Nelson, Geoff Keighly, Stephen Totilo or Kevin Butler. Trust me, there are benefits (such as free codes for new downloadable games and stuff).
Another great one to follow is CAG (www.cheapassgamer.com to the unaffiliated). Great game deals get tweeted and you can hop on them fast.
In fact if you're into deals period, following Slick Deals. Beware, though. You'll end up BUYING stuff or wishing you could.
What about if you're into it for professional reasons? Now that is where it really shines. When you follow those that regularly post good articles for you to read, free software to download, etc, it really can help you out.
Lastly, posting interesting stuff you find online (articles, stories, vids, et al) is always fun, especially if your friends follow you.
Eventually your list of follows grows (mine is slow, but I really don't pimp it out as I can barely keep up with the tweets I have) and then you might see what you're looking for. But I wouldn't use it to have a lot of back and forth with people. You have to first grasp HOW Twitter is used and then you start seeing the benefits.
