Some highlights
Payment info to be stored on opt-out basis, instead of opt-in, but they will allow you to delete it after it's been stored.
"Authorize" becomes "connect with".
"Facebook-enhanced applications" becomes "applications on Platform"
Removes suggestion to review default settings.
In the Rights and Responsibilities document:
Adds "You will not create more than one personal profile. ", so get your sockpuppets built now.
Adds prohibition against inciting violence. Take that, Tea Party.
If you cancel an ad you've bought, you owe them for showing it between the time you cancel and the time they actually stop.
FB claims to own the words Face, Poke, Wall, and the number 32665.