Exactly. I actually think that Timeline is an improvement for user privacy, as it makes it easier for users to see exactly what information about them is accessible, and they can then decide if they want to remove it or strengthen privacy controls.

In the past, that ex-girlfriend or boss might have taken the time and effort to dig through content to find out about a drunken college night, but you would probably have completely forgotten it existed. Timeline offers you a way to double check old content comparatively quickly and easily.