That's actually a good question. I haven't been on facebook much in a while but last night I decided to go and investigate the situation. I was actually pretty impressed by how things have changed and I think I'll be logging on more often.
As for the recent redesign, they had to do something to get everyone's profile organized, readable, and consistent again (while still giving people the ability to customize things and add apps) and they actually did a really fine job. It may be a little confusing and disorienting at first when you're expecting everything to be on a single page, but once you realize your profile is now made up of several different distinct pages (wall, info, etc.) it makes perfect sense and works smoothly.