Some very generous community contributors have provided the following code (including source) for Facebook and Twitter feed web parts:
I needed some slightly different behavior so I tweaked their source code with the following changes. I've provided the new solution file and my modified source code below for anyone that may need similar changes.
I've combined both the Twitter and Facebook feeds into a single web part with 2 table columns. When adding the web part, choose the one titled 'Show Wall' to get both feeds.
The Twitter feed is returning all tweets for all feeds that the user is subscribed to, not just their own tweets.
The tweets are 'Linkified' - that is, all the hash tags, mentions and URL's within the tweet text should be appropriately hyper-linked.
Here's a preview of the web part:
For instructions on installing/configuring the Facebook and Twitter web parts and the Twitter account to publish the feed, see the 'Getting Started' wiki pages within the code.google.com links
Facebook/Twitter Web Part Source Code
(The .wsp solution file is in the FacebookTwitterRSS_WP.zip\sharepoint-facebook-wall-read-only2\BrickRed.WebParts.Facebook.Wall\bin\Debug directory.)