I was speaking with someone the other day about Facebook and the user’s particular privacy settings. Over the last year, Facebook has made a lot of changes to their settings; much of it positive- for example, they've given users greater control of who can see what.
As I was talking with this person, I was reminded of a helpful article that the NYTimes wrote several months back. For those of you with Facebook accounts, I'd highly recommend reading the article. It contains several helpful points to making your accounts more private.