Yesterday during the the F8 Developers Conference, Facebook revealed Timeline, which is basically just their new profiles that are redesigned and also include some fancy new features to “tell your life story”. They’ve also been rolling out new public features such as the news ticker, that many people have been complaining about and also a music app that appears to integrate with Spotify in order to share the music you’re listening to with your friends.
I followed these instructions to activate the developer (beta) version of Timeline on my own Facebook account but it is currently only visible by other developer accounts.