I would also disagree that Facebook's take on privacy is "downright scary," given the range of privacy settings you can choose. It's not some half-assed implementation on their part. Perhaps you take issue with the default settings?
No one set of privacy options will work for everyone for any of these tools. And when you choose to use one, you're responsible for what you say and do with it. So maybe the real issue is that Google decided to enable Buzz automatically. It was a choice they made, and I don't think it was necessarily the wrong one.
The only thing the Google Buzz Engineers should be working on this weekend is removing the huge lag for posts showing up in the feed.