The Valleywag Guide to Restoring Your Privacy on Facebook
As Facebook institutes new terms & conditions, privacy of UGC is now becoming an issue.
The Valleywag Guide is an excellent explanation of which radio buttons need to be unticked.
Update: 19.12.09 09:00
Consumer advocates have asked the Federal Trade Commission to order Facebook to bring back its former privacy settings.
Wired have written about further privacy issues on Facebook.
Updated :: 14.01.10
An employee of Facebook is interviewed by friend off camera on the issues surrounding privacy within the new Facebook campus.