The second step is to add your friends into FriendBinder, by clicking the "Add All Friends" option next to each network. FriendBinder will then login to your external accounts, find your friends, and troll for updates.
When complete, you have what's called your "FriendStream", which, as anticipated, shows the latest updates in chronological order, the top item being the most recent.
As once was said about FriendFeed, if you don't make any changes to your preferences, FriendBinder is dominated by Twitter. The sheer volume of updates by friends in Twitter had me looking around to see just what other updates were contributing to the stream. I did find the occasional Digg or Del.icio.us update, but they were the exception rather than the rule.
Interestingly, one wrinkle offered by FriendBinder is the ability to rate the importance of one network's updates above another, from 1 star to 5, with 3 being the default. This is called the "interest level". I can also, by network, tag one friend's updates as more important than those from somebody else, by manually clicking the number of stars. (Frederic of The Last Podcast noted this in his review as well)
This lets you sort your best friends from lesser contacts by filtering your stream by 5 stars, 4 stars, and so on.
You can also parse the FriendBinder stream by service, showing only Del.icio.us updates, only Digg updates, etc. Given the overwhelming noise coming via Twitter, first clicking Networks and then picking a single service just might be the best way to cut through the noise.
By registering with FriendBinder, and entering my network details, I know what I've done is set off yet another farm of servers to continue slaving away, and requesting my contacts' information, even if I never login again, just like when I registered for Iminta, Profilactic, Spokeo, Mergelab, Assetbar, Shyftr, Plaxo and any other site aiming to do the hard work for me when I'm away. As discussed last week, this strain on the infrastructure can eventually force sites to reduce features or even close, so I'm already feeling a bit guilty for making FriendBinder work on my behalf. Hopefully, FriendBinder can step up to demand, should it grow, and add new interactive features that would help it bridge the gap from being yet another lifestreaming site to one who can innovate and differentiate to make it a destination site.