Cyn turned me on to ReclaimPrivacy two weeks ago and it's working really well.  
They have updated it at least once that I remember, with each facebook tweak.
The ads on the side are typically targeted based on the words that you use in your status.
Try putting up a status about wanting a cupcake... one of my friends on a SuperDiet through a nutritionist now sees an ad about cupcakes every. single. day.  Poor thing, I think she's going to go apopleptic any day now.  
Obama wants me, as a single mother, to return to school and he'll give me $10k.  Funny, my degree is gonna cost $140K, I'm already in school, and I don't have kids.  w0ot for targeted advertising.  

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				Here's how life works: you either get to ask for an apology or you get to shoot people. Not both.  House
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					Originally Posted by Plan9
					
				 Just realize that you're armed with smart but heavily outnumbered. | 
	
 The question isn’t who is going to let me; it’s who is going to stop me. Ayn Rand