I am not sure that the word "Like" on the Facebook Like button is always the right word to describe that you are interested in and want to share a particular story.
Case in point. This morning, the New York Daily news announced that Yankees owner George Steinbrenner has died of a heart attack. My condolences to his family.
In this case, placing the Like button just below the headline creates an interestingly sad header. "Yankees owner George Steinbrenner has die" "199 people like this. Be the first of your friends." Even a bitter Red Sox's fan wouldn't be so cold as to "Like" the fact that he died.
I am sure that most just wanted to share the story with their friends. In this case, it may have been better to go with the Recommend option for the button instead of the Like option. But the installation of the button doesn't allow you to switch between the two on the fly. You are semi committed to one or the other. Definitely something to think about when installing the button.
And what about all the people who dislike a particular page on the web. Do they get a say in whats good and bad on the web?
I think the Like button is an interesting and ambitious idea. However, I still think there is a lot of room for improvement if Facebook wants to achieve its goal of cataloging the entire web one Like at a time.