So that didn't last long...
The furore came when this vital column of text from removed:
You may remove your User Content from the Site at any time. If you choose to remove your User Content, the licence granted above will automatically expire, however you acknowledge that the Company may retain archived copies of your User Content.
It has now been reinstated, word for word.
"Going forward, we've decided to take a new approach towards developing our terms," said Facebook CEO Mark Zuckerberg. "We concluded that returning to our previous terms was the right thing for now." Hinting that further controversies could be ahead however, the controversial founder added: "As I said yesterday, we think that a lot of the language in our terms is overly formal and protective so we don't plan to leave it there for long."
Of course the counter argument is simple: why would you care about a company storing information you willingly disclose publicly? I'd suggest: because privacy settings mean many only choose to share this data with an extremely close knit group of friends and family members. We're not all obsessed with friend collecting.
In short the move marks a win for the user, but I suspect choppy waters lie ahead...