I don’t use Facebook much anymore so I just saw the new privacy settings prompt when I logged in today.
Redesigning something as increasingly complex and widely used as Facebook is never going to be easy. People are going to complain. I’ve always felt bad for the slamming Facebook takes on UI design but unfortunately I’m about to pile on.
Here is the default screen for Facebook privacy settings

OK, pretty straightforward except what are my “Old Settings”? I setup my Facebook account a few years ago I have no clue what those settings are.
I looked at this screen for a minute or two and then by accident my mouse hovered over the radio button and it revealed what the old setting was.
[Note: sorry I didn't grab a screen cap at the time and now I can't get to this view again. ]
Why would you put a rollover on a selected radio button? I have no reason for my mouse to go near a selected radio button since there is no action I can do on that form widget.
Their account view of Privacy Settings reveals this info quite elegantly. Not sure why they wouldn’t use this for the initial prompt screen?

Facebook has begun rolling out its new privacy settings to all of its 350 million users. If you haven’t seen it already, you will soon have to go through a wizard that will guide you through the process of confirming your privacy settings.he new settings are supposed to make it easier and simpler to control your information, but the changes are drawing a mix of criticism and praise from privacy watchdogs such as the Electronic Frontier Foundation (EFF), the American Civil Liberties Union of Northern California (ACLU), and the Electronic Privacy Information Center (EPIC).
Looks like you’re not alone! http://www.facebook.com/home.php?#/group.php?gid=27233634858&ref=nf
of course, you have to log in first, to see any information about safely logging in…..