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Both Myspace and Facebook are social networks designed mainly to network between friends and relatives. These both have the issues involving the online predators but the one item in common is that the user has to make the choice on whether or not to accept them as a friend. Also, both have the same intentions and are not babysitting services. Both services allow you to make groups whether they are public or private depending on what you are looking to create in the 1st place. To really understand it, while there are similarities between them, there are a few notable differences that need to be mentioned. As far as which one is better, that's for you to decide for yourself.
Facebook: You can't make up a fake name in the 1st place. That can be a negative if that is something that really troubles you greatly. There are applications that can be developed. I see many applications developed on Facebook and they do have to follow the guidelines and not cause any problems in the 1st place. If you have an understand on a web language like PHP for example, then quite honestly, this could be used as a platform to really begin to understand how it works.
Myspace: Your display name can be changed at any given time. While you can't change the address, it will allow you to display a different name. The background for your page can be changed at any given time to whatever you desire. Background music can be added of course. You can make your profile as fancy as you desire. Also, one neat factor is that you can promote your own band, wrestling promotion, or anything for that matter as it doesn't have to pertain to you yourself.
To put it bluntly, not one is better than the other in that perspective. They are pretty much alternates to each other and also trying to go for different areas. While they both serve the purpose of having friends and relatives in your network, Myspace however allows, at least from what I've seen, bands and some promotions for example. It's not a matter of trying to say which one is better, it's a case of saying pick the one that would suit your needs the most. Look at them if you are considering getting one and decide right then and there which one to get.
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