I didn't like it for the longest time, but once my wife's family got on there, they were able to post pictures from their family history that she and I had never seen. Plus, we got some info about her family history and upcoming events (weddings, etc) that we would never have heard about.
I hate "timeline." I don't have it (decision was based on "you can't go back if you don't like it"). Everyone who has it tells me they hate it, and I didn't like the interaction when I viewed it.
That said, I do have two FB...one for the "man", one for me (Beth). I plan on using it like a history-O-blog during my transition, not so much for social stuff.