At the 2011 f8 conference, Facebook announced Timeline -- a major overhaul of the personal Facebook profiles to which we've all grown accustomed.
UPDATE December 15, 2011: Facebook announced that Timeline is now available worldwide. Read how to get started.
When Timeline is rolled out, your personal profile will be organized in reverse chronological order, as a "timeline" of your life, like an online scrapbook. As Facebook CEO Mark Zuckerberg