I love the new profile, and love the idea of timeline. I have wished for some time that I can easily go back in time and see what I posted 6 months ago, a year ago, 2 years ago..,. my life was so different then. Can't wait for this to be active.
If you add people as Facebook friends who you think "it would be creepy" if they know things about you from a year ago, that's your fault. You're using it wrong.
I put my friends into lists long ago, and don't share anything with people I only met once or twice. Facebook, keep going! This is awesome!