Facebook seems to do a pretty good job of tuning the newsfeed for me. I "only important updates" a few people, and block most apps, and everything else is either people I really care about or is interesting stuff about other people. I do "like" things I like, which may get fed back into the algorithm.

What really impresses me is how it deals with Quora. Most Quora actions are boring (especially since I see them on the site itself), and they all go to fb, but I only see interesting ones.