Just to help those of us who are not so techie to get FB:
I follow it through a feed reader (in my case, Google Reader).
Besides the obvious benefits to this, one great side effect is that you never, ever see the output of applications (e.g., quiz results) or the other useless noise like "so-and-so is now friends with someone else you already know". The only drawback I've found is that you also don't see notifications about photos that your friends have uploaded. (You do see links that they post, however: just not Facebook-hosted photos. It's a bizarre omission.)
Anyway, I just had to explain to someone how to accomplish this feat, which made me realize how completely non-obvious Facebook has made this. Finding these feeds is a complete pain in the ass. They've really gone out of their way to hide the URLs you need to use.
So. You have to subscribe to three or four different feeds.
Posts: Find the Posts feed by going to http://www.facebook.com/po
Notes: Find the Notes feed by going to http://www.facebook.com/no
Notifications: Find the Notifications feed by going to http://www.facebook.com/no
Status Updates: This is the RSS URL for the "What are you doing?" Twitter-like part of Facebook. This is the one you probably care about, and it is trickier, because Facebook no longer links to the feed URL! Nice one guys. You have to construct this URL by editing one of the above URLs. E.g., take the "Notes" URL and change the part of the URL that says "friends_notes" to "friends_status". Keep the parts of the URL before and after that, including the magic numbers at the end.