How I Use Delicious Bookmarks
Like many swift, loud fads, I initially ignored Delicious (then annoyingly titled “del.icio.us”). But as you can see, that’s no longer the case:

Trevor Bramble's Bookmarks on Delicious
So why the turn-around? Well, originally I was using Google Bookmarks and for a number of reasons I wanted a replacement. Delicious has great Firefox integration and is fairly popular with other people I wish to trade links now and again.
In fact, the way Twitter is sometimes used as a conduit for easy linkdumping is much akin to how I use Delicious to flag links as something I think my friends should give a look.

Delicious Bookmark editor
I’ll generally ignore the suggested tags if they conflict with what I’ve already used, and I’ll be judicious when selecting friends to tag :for so they don’t end up ignoring everything I send their way.
Usually I don’t spend any time on the Delicious site unless I’m cleaning up duplicate tags (merging “rubyonrails” into “rails”, for example) and instead I make use of my collection of links via the Firefox extension’s sidebar.

Delicious Sidebar
While I do find some things about Delicious irksome, using them for my social and personal (but not too personal) bookmarking needs works out very well!