Privacy is a RIGHT is a myth created by self-righteous people. If you want to use the ‘free’ service of face book you have no RIGHT to complain about what they do with the information you freely give them. If you don’t want your information used by facebook in a non-‘kosher’ way…. DON’T GIVE IT TO THEM.
I believe this is a great application. Sure it is predicated on your drunk friends having enough sense to properly tag photos (I don’t), but I have had several occasions where we were looking at interns at PR firms where I worked and NOT hired them because of damaging photos.