I recently offered an online training session on the topic of Facebook Privacy Settings. Lots and lots of people are interested in this topic, and it doesn't surprise me. As a Facebook user, I have struggled with whether to "friend" work colleagues with my personal account. Is it a good idea, as George Castanza once put it, to let those separate "world's collide"? Not without considering possible ramefications and putting privacy setting in place to allow you to manage your multiple personalities.
An article and website that I find most useful for addressing this issue, and which formed the basis of my presentation, is this one:
10 Privacy Settings Every Facebook User Should Know
If you use Facebook, read it. You probably didn't know you could create lists/groups of friends and assign different permissions for different friends. It also contains tips for keeping your photos and your profile private.