There is a great post on Mashable today by Alison Driscoll that shows you how to protect yourself from sharing TMI with certain "friends" on Facebook. Now that your parents, coworkers, bosses, teachers and neighbors are friending you on Facebook, creating friend lists to control their access to the content they see on your page, is key to staying out of trouble (while still being yourself on Facebook).
I lightly use the teqnique Alison describes, but it is most appropriate for professionals and students who actually have things they should keep from their bosses, teachers and parents. As for me - I pretty much share everything with everyone anyways. ;)
With professional and personal life coming together more and more on the social web, you should really consider taking advantage of friend lists and editing privacy controls, so you can still accept your boss and mom's friend request but not risk your job or your mother's approval.
