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I think more targeted ads are better for the user as it limits time requirements (our time these days are limited which is consistent with technologies which are more time efficient).
Hell, I'd be fine with Facebook setting a cookie that other sites could use to display targeted ads--if it gets rid of the "lose your belly fat" ads I see everywhere, more power to them.
http://Twitter.com/TrendTracker
I think it isn't saying "feel free to be eerily close to my wants", but instead is saying I will consent to use of my information, but only after you prove that you do so in a way that puts me first - puts me in control of that "transaction" and gives me what i want.
getting the transaction right is very important to users and i think that is why the wait.
With Facebook's history of a highly protective privacy policy, users are more comfortable putting their information online. But Facebook would have to do a good job to assure that the information they're using to serve advertisements wouldn't be available for advertisers to purchase. Facebook would also have to assure users that their metrics wouldn't be stored over the long haul, particularly if they decided to delete their account.
It rests in how Facebook uses the information it has and how transparent they are with their users in how that information is shared.