Facebook's Trainwreck

I just read Boyd's article about Facebook's Trainwreck. After reading it I revisited my privacy settings for my Facebook account and realized that I hadn't fully understood some of the settings. Now I have a much better understanding of my privacy settings, particularly as related to the News Feed feature (which was the focus of Boyd's article). So, if it took this much for a reasonably educated and cautious adult to get my privacy settings right, what are the chances that students who just sign-up and go get it right?