Sounds like a viable plan. I hate MySpace personally and try to avoid it at all costs. 
Anyway, you might also want to look at ReverbNation since it will interact directly with FaceBook. If you’re already on FaceBook your friends and family can just play your music there and will see it when you put songs on ReverbNation.
I threw a few demos up some months ago just to see how it works there. http://www.facebook.com/pages/The-Audio-Cave/101387049936227?sk=app_2405167945