Our son who uses social media told me of this facebook profiling item. so I opened their log in page and saw that there was the title "Your facebook timeline" plus a video screen with the following statement: "Tell your life story with a new kind of profile." there was also a "learn more" quick link ...
In my humble opinion it's just another way for facebook to mine all mannor of information from their unsuspecting subscribers (and maybe some folks who should know better than to give oute private information). I think I'll stay as far away from that stuff as I can. I am still for all intents and purposes a "ludite (reformed, I don't smash things, I try to ignore them as much as possible).