The friends list is still available to third parties through the data API's. How long until a third party provides that data as a product? Actually, Facebook itself is already offering that data to employers, IIRC.
EDIT: To clarify, I'm not talking about the publicly exposed "graph". I'm talking about what they've long provided to their third party affiliates, e.g. all the approved Facebook "application" developers/hosts.
P.S. Notice the nice information asymmetry involved in this, as well. You, as a private individual, have no access to this. But designated (and / as in paying) parties do, at the sole selection (I think I'll avoid use of the word "discretion") of Facebook.