I made a step-by-step Facebook privacy guide for one of my clients, but I feel you guys on here are a little more advanced than to need all the visual cues.
The main thing you need to worry about: Facebook is going to keep doing stuff like this.
1. Never put anything out there that you wouldn't want released (duh).
2. Stay ahead of the changes they make. They announce stuff like this before they do it, usually on blog.facebook.com or in your updates. Facebook sends you updates before they do this stuff, but you don't receive notification of them. So unless you know to check your updates, it's kind of pointless.
To check for the updates from Facebook (and any fanpage you've "liked,"):
In the left column of your homepage, click "Messages." Under Messages, you have the option of clicking "Sent" or "Updates."
Click "Updates." Any official Facebook changes or proposed updates to the privacy policy will be sent from "Facebook Site Governance."
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