Why bother? As quick as people set everything private, FB updates everything, and it all is public again until the suckers catch up.
I know of someone that created a FB account under a very strange, phony name, and set everything as private as it could be. Today you can google that name, and MyLife knows everything about the phony character.
And with the FB facial recognition, if anyone posts a picture of you where you are tagged — then all pictures of you are matched up. You don’t even need a FB account for that to happen.