I found timeline confusing at first, but then I realized if I focus on the line in the middle then reading posts becomes just as orderly as it was before, with the added benefit of greater information density. It also unclutters the left side of the page which was a column before. And also by turning the background blue it gives better contrast to the news/chat panels on the right. About a third of my friends have switched over now, and old profiles just look old. The large banner was a nice touch as well.