Facebook is changing and so is their Privacy Policy.
Some nice features exist limit access to your profile, photos etc. However, keep in mind that Cover Photos cannot be hidden, unless deleted. Access to Profile Picture can be limited, but the thumbnail will remain visible. Please see my old post on Social Media Permissions here:
Following are examples of how the features work.
View As:
Limit Old Posts (a nice feature to clean up previously publicly shared activity):
Limit access to Individual Photos/Posts, but not Cover Photos:
