Mark,
Extreeeeeemely sorry for the delayed response. Not sure how this post fell through, but it did, and I apologize.
For Google Analytics, there's nothing you need to do *if* Google Analytics is already working on your site. We don't insert the GA tracking code, we just update it to track Like's on your site. The Social Settings URL is for some other features, and should (generally) be left blank.
As for what JFBConnect does do, if you go to the Traffic Sources -> Social -> Social Plugins area of GA, you'll see the stats. It should show # of "Social Actions' on pages over time. You can then break that down by FB or other sources.
Hope that helps point you in the right area to look. If you need anything else though, or have any other questions, just let us know!
Thanks,
Alex