I mean I know what it is. I’m a curmudgeon, not a misanthrope. But what does it do, practically. I have been here a long, long time. I would have wanted to be friends with Eve, for example. But I just kind of hang out here and occasionally, very occasionally, post something that I don’t think sounds too stupid. But I see, and I’m not sure how long it’s been there, that there is a friend request from a poster that I am aware of. I click the link and it appears that I accept all friend requests. But, unlike LinkedIn, for example, there is no procedure to complete the transaction. So are we friends yet? What does it all mean? One friend request in all these years. Maybe I am a misanthrope.
Friends are a feature of vBulletin that SDMB doesn’t really use. You can friend or not anybody you want. Nothing much changes when you do or don’t.
There’s no one listed on your friends list so I’m pretty sure you didn’t do it right. I don’t exactly have a huge friends list myself (I guess I’m not very friendly 
), but I think you have to check the box next to their name when you accept or it thinks you aren’t accepting anyone. Something like that. It’s been a long time since I accepted a friend.
If you accept, then their name shows up on your friends list.
If you go under your user control panel (User CP on the upper left area of the page), there are some privacy options available. You could, for example, only allow people on your friends list to see your e-mail address or certain other parts of your profile.
Other than that, eh, not much. We don’t really use friends lists around here for much.
Moderator Idle Thoughts gives the reasons for her/his friend requests in this thread: http://boards.straightdope.com/sdmb/showthread.php?t=807373
It may shed some light on the subject.
To answer your question:
Procedure: you have to check the box next to the username/avatar you want to accept, then click the accept button
Impact: very little 
I’ll send you one and you can test it out.
Okay, I got it. Doesn’t mean I’m going to loan you money or anything.
Dammit. Well that was a waste of time, then.
If you do, just mail it to:
BEHIND THE HOT WATER PIPES
THIRD WASHROOM ALONG
VICTORIA STATION
Request sent.
If/when I’m in the area, I expect my friends to put me up for a night or two.
I received a friend request after interacting with a poster in a thread.ì accepted and though we haven’t communicated since, I get a warm feeling when I see his posts.
I’m feeling warmer already. From zero to five friends in only a couple of days. Nice.
It’s just a precaution.
It doesn’t mean we’re engaged or anything.
hugs
Ok, I guess that means I’m going to have to put up with you, sorry put you up for a night or two:D