Maybe our most effective strategy is pre-emptive avoidance? I've never played any of those Facebook games, in fact I never joined a social networking site at all for years, because I KNEW it would be a time sink. I like computer games but i've sworn never to even TRY World of Warcraft. I felt pretty stupid about trying EVE Online (I was intrigued by the business aspects) but turns out it's very boring anyway.
So my point is, recognize in advance the time-wasting potential of prospective activities, and that will save you some grief. Another strategy: treat these activities like tradable items, like currently I'm considering "Buy: iPad, Sell: Xbox 360" and then the net effect of a new gizmo should be nullified.
I still remember how much time I spent playing the first generation of RPG, like Bard's Tales and Ultima 1/2/3. After a couple of these episodes, I tended to avoid these kinds of games because of the huge time commitment. It felt like a pain to start learning and playing huge time-sink games. I have been cured since then.
So my point is, recognize in advance the time-wasting potential of prospective activities, and that will save you some grief. Another strategy: treat these activities like tradable items, like currently I'm considering "Buy: iPad, Sell: Xbox 360" and then the net effect of a new gizmo should be nullified.