According to Facebook, the "re-imagined" layout is more interactive, "layers" information to provide an overview of key topics, clusters related information together, relies more heavily on images, and is written in more straightforward language with a minimum of legalese.
Among other tools, users can see the type of information visible to Facebook's advertisers by previewing the tools advertisers use to create targeted ads, check up on the applications that have access to their profile information, and more.
Another remarked, "The format is better but there is still way way to [sic] much text. It must be possible to simplify it and abbreviate it. Otherwise even with the improved interface and layout people won't read it all."