But They also have a very nice article about Facebook Privacy and Productivity and a podcast (Link is at the bottom).
Tips to protect your reputation, and your identity:
Adjust Facebook privacy settings to help protect your identity
Unlike some other social networking sites, Facebook has provided some powerful options to protect you online - but it's up to you to use them!
Think carefully about who you allow to become your friend
Once you have accepted someone as your friend they will be able to access any information about you (including photographs) that you have marked as viewable by your friends. You can remove friends at any time should you change your mind about someone.
Show "limited friends" a cut-down version of your profile
You can choose to make people 'limited friends' who only have access to a cut-down version of your profile if you wish. This can be useful if you have associates who you do not wish to give full friend status to, or feel uncomfortable sharing personal information with.
Disable options, then open them one by one
Think about how you want to use Facebook. If it's only to keep in touch with people and be able to contact them then maybe it's better to turn off the bells and whistles. It makes a lot of sense to disable an option until you have decided you do want and need it, rather than start with everything accessible.