My Space, Is it That Bad?

Well i've been thinking of making a myspace, but I'm kind of nervous about doing it because I'm 15 going on 16 and I hear a lot about pedophile's and all that stuff. My parents have told me no, but I think it looks cool. But I guess my question is, Is My space really full of that type of thing and are there way's to make it safe while having your profile visible to the public? I already know not to do these thing's:

1. No personal information like what city I live in or where I go to school.

2. I won't post any actual pictures of myself.

3. I won't accept Friend Requets from strangers.

Is there any other way to avoid being harrassed or anything? Because it looks cool.