The value prop is much clearer from the headings on the “sneak peek” demo than any of the copy in the exec summary or on the site itself.

My opening pitch would be:

“MyLifeOnline makes it simple to manage many social network profiles with its single, centralized dashboard. Our service makes socializing online more fun and efficient for users…and increases interaction for our partners (MySpace, Bebo, and LinkedIn). MyLifeOnline is like an interactive RSS reader for the social web.”

The current summary buries the lead (“users are getting frustrated…”) beneath two headings and four jargon-y sentences.

Hope this helps!

http://www.spimeco.com