"Profile and post controls have been moved from the settings page and placed on an inline menu, so you can quickly change who can see your details and who can read your posts. You can also change your mind about who can read a status update after you’ve posted it, which wasn’t possible before." -- via PSFK
Facebook is improving the user experience by making its privacy controls easier to use: they are surfacing the menu, and allowing privacy edits to posts.
Would this have happened without Google+?