I love Facebook. No, I mean I really love it. I spend A LOT of time there. I am that person who will go through all 536 photos in all of your albums, including the one from that trip you took to Sweden to see the grandparents.
But I love Facebook for non-stalkerish reasons, too. It allows me to stay in touch with my step-brother in a way I could't otherwise, with a window into his daily life and the ability to watch his kid grow up. It gives me the chance to be in touch with people that I miss, but live far away. It also lets me stay connected with people that I like, fine, but don't need to see for drinks every week.
I love Facebook so much I even like Timeline. I know.
Clearly I'm all in favor of Facebook. But you have to do it right. If you just leave all your settings alone, people like me, with whom you are perhaps not even friends, can sit down with a drink and peruse YOUR photos and posts and stuff.
So watch this video, and then DO what it says. Keep your shit private and enjoy the awesomeness that is Facebook in peace, knowing that creepy pervs aren't ogling that photo of you in a bikini that your "friend" put on your wall after your trip to Vegas :)