1) I would assume Facebook still gets unencrypted access to my address book for use with their shadow profiles
2) We have zero control over what key the client encrypts the messages for. Is it only the other peer's phone? Or is it for the peer's phone plus Facebook for analysis of the messages?
Especially 2) is of some concern to me (against 1 I can't protect myself anyways because if people add me to their address books I'm screwed anyways). From that perspective, I'm still inclined to trust apple's iMessage a bit more especially after recent events.
The only safe solution right now is to compile your own signal client and use that, of course at the cost of reach because nobody else is on Signal.
WhatsApp might be a good compromise at least for only semi-important messages: The probability that any of your contacts has WhatsApp is much, much higher than the probability of them having Signal running. On the other hand, whatever you're sending over WhatsApp is likely going to be used by FB (and then possibly handed out to governments and/or stolen by attackers).