As a Web developer, I appreciate that Facebook successfully manages a community with more than 800 million users, which offers them a bit of forgiveness for little interface issues. Beyond that, I bet if the people complaining about new interfaces went back three months later, they wouldn’t even recognize the old one and would agree that things had, in fact, improved.
As a Web-savvy individual, I don’t have any great love for Facebook’s approach to privacy settings.
I find them cumbersome and imagine a lot of users don’t take the time to navigate, therefore leaving their accounts wide open for perusing. I periodically check on my settings to make sure everything looks good, even logging out and Googling myself to see what other people see.