Like you I tried the bookmarklet out and everything was set to how I had wanted it. I wonder about the non tech-savvy individuals though? Are they running the default privacy settings? Do many even know you can change your privacy settings?

I also find it odd that many will trust and use a third party tool to help them control privacy instead of trusting the actual site (in this case Facebook) to keep their data private. It seems to me that Facebook has a lot of PR and damage control to undertake before going the way of MySpace.