Timeline is the best thing that has happened to facebook in a long time. I have just started using it and I already see a great potential in it. I also don't understand why people are complaining about getting stalked, the feature will only be accessible by your friends. Its a neat feature and has received positive feedback so far from the facebook community.
On a side note, mods need to get there act together quickly, I am seeing a lot of trolling on TE lately.