It seems to be the re-design story is getting more and more coverage. I just saw another good article on the Facebook redesign at yahoo news. The article states that Facebook will launch its redesign in June.
In addition I received an update from the preview team explaining that the side column will also be cleaned up. If I understood everything correctly you will no longer be able to have applications located there anymore, instead all applications will be accessible from the Applications tab on the top of the profile. If you click on this tab it will drop down a menu allowing you to quickly access your favorite application. This is a great navigation improvement and addresses my previous point about the clutter of applications seen on one’s profile page.