What I'm getting from this is that you should assume that all your Facebook information is publicly available, and act accordingly, because they could make it so at any time. At this rate of trustworthiness, I wouldn't be that surprised if in 2 years status updates were made retroactively public with no opt-out (and maybe without even telling you).
Edit: Is this even legal? Consider the following scenario: Someone signed up for a Facebook account 3 years ago, and entered some of this information, at a time when their privacy policy explicitly promised that the information would not be shared. They have not logged in since, so cannot be said to have even implicitly agreed to a change in the privacy policy (and Facebook has not mailed out any notice of the change). Now their information is made public, in violation of the privacy policy. Not sure how easy it'd be to enforce, but at the very least it seems sleazy.