I just hope that one day people will stop calling others paranoid whenever someone raises privacy issues. For example everytime I raise this issue, someone would call me paranoid or overly sensitive and try to show me as a crack head. Well I want to make something clear. I am not worried about someone is trying to catch me, listen my conversations or watch my every step. This is not the case at all. What I am worried is that the power and level of control they gain after all this data mining. I am not worried about individuals at all, they would be very busy to watch everyone seperately. They are rather interested in "crowd behaviour" which is a priceless data. That is why MS or Google can throw billions of dollars in less than a nano second into this business. If I had money I would probably do the same thing. Buy facebook and see how silly people can get.
I am not against social sites or similar enterprises at all. But "ends does not justify means". Why they do is more important than what I gain out of this deal. And to be honest you think that you are getting a good damn free service, in reality you are getting the short end of the deal. What you get from such relationship(you and facebook) is so little compared what they gain.