webapp - 10:18 pm on Dec 30, 2011 (gmt 0)
So far, Timeline only applies to an individual's profile, but most people spend their time on the wall, which is still about "information now." An individual's profile has always been about that individual, of the present, and of the past, and Timeline does a much better job of presenting this with new ways to feature and display events, photos, and data.
I think their next step is to take what they learn from Timeline and apply it to the wall. The wall has a much different use case than the profile page, but could benefit from some of the cool things they've done with the profile page.