This is based on my limited knowledge of display advertising, so please correct me.
It all boils down to what you mean by "identify" - if you include "complete name, address, age, etc." - then, no, FB doesn't directly identify you. But if you mean "know whenever that same user does anything else anywhere", then - yes, they do let the advertisers identify you.
I don't know if they reversed this policy, but last I heard, if I "liked" Coke on Facebook, they would use my name and photograph when advertising Coke to my friends.
That's not directly selling data to advertisers, but for me, it's just as objectionable. "Liking" a page and endorsing usage of my name for advertising that page to my friends or publicly are two very different things.
"I think this is cool" -> "+ please subscribe me to your updates" -> "+ please tell everyone I know, repeatedly, that I unreservedly endorse this product/company/whatever - while not paying me anything."
You can probably detect my cynicism in the above.
FB's non-optional control and filtering of the feed is to benefit them and give them a monetization option, it isn't a service to you.
EdgeRank is an extortion for businesses.