I'm currently immersed in my postgraduate dissertation, which is on the Data Protection Act (and CoK can be assured that I'll be making the appointment this time!). Thinking about why the legislation is there, makes me highly suspicious that this is simply a rouse to get access to thousands of Facebook profiles for the purpose of commercial data mining.

Anyone who signs up (and I see a number of my friends have) - don't be surprised to find zero benefits but that your personal information pops up in ways you didn't expect.