I'm running it on my phone now and the first thing it did was ask "Hey. Is it OK if I do all these things?". It wont run without your permission.
Unlike Apple, Google is pretty good at asking these things.
Edit: Maybe Apple has gotten better. I just remember iTunes wiping my iPhone, iPod and all ID3 tags from my music collection numerous times when I was just supposed to copy/add some files. And that was before you even booted their OS.
Well yes, glad you asked, I am fed up with Apple.
From what I've seen on Android (I'm pretty new to it as a platform, so I could well have missed something), you do get told what the app wants to access but then only get a binary "allow everything that it's asked for/don't run the app at all" option.
Drama, much...?
I don't trust facebook and thus I don't use it. It's easy.