Original speech is here

From the User standpoint

Hit: It's nice to see the new interface. I really like how the timeline adapts and dedicates more space to the things that are important to users.

Hit: It was very very good to see Zuckerberg acknowledge that they failed to protect the users from developers who wanted to bust their balls. Most of all the applications that required people to invite others.

Hit: Easier installation of applications. Thank god, now I can look what an application will behave like with much fewer clicks. Really promotes a healthier developer ecosystem with benefits for everyone.

Miss: The timeline most of all still has a long way to go. In my mind, the final destination clearly lies in interfaces like Friendfeed. I'm uncertain why they aren't doing that.

Miss: Facebook pages look like MySpace more and more because of application creep. Some pages can't even load because of the clutter. There should be tabs or other navigational tools so that users can organize their spaces better. Eg keep a first page with the application they really like and more with contact info, another with games and so on.

Miss: No news about the spam. Whenever I see at an invitation to do something, there should be an option to dimsiss it and dismiss all future such notifications. I shouldn't have to go to the applications list, find it again and guess which checkbox created the unwanted invitation.

From the Developer standpoint

Hit: More incentives to build applications for Facebook especially over the Connect platform. This essentially means that I can use data from user profiles and so on. The underlying platform is the Windows Live Contacts platform which is ridiculously complete and allows access to users' data using pretty much any sort of API (REST, JSON, SOAP etc).

Hit: Throughout the announcement it was very clear that Facebook is getting serious about protecting the ecosystem. This is good. As a developer I wouldn't want to be in a place that darkens the reputation of my applications.

Hit: Funding for applications. This really means a lot. The most beneficial applications just so happen to not make any money. This is very insightful. It remains to see if they will choose decent applications for funding.

Hit: Equity between what Facebook and 3rd parties can do. It's really nice to see that Facebook is trusting and doesn't have unfair advantages over developers. This is key to a healthy ecosystem, and very different from what Apple is doing with the iPhone for example.

Miss: It still isn't clear which applications are ok and which aren't. As a small and insignificant developer I can't bother to read legaleze. Also the second speaker said that while these are guidelines, they retain the right to kill whichever application they don't like. This really doesn't help.

Miss: The needs of small developers and ginormous funded firms the the iLike platform have very different needs. On Facebook's developer wiki I still can't find sample applications. Things people can use as a blueprint and evolve out of, instead of having to understand how everything works and design from scratch.

From the Commenter standpoint

Major Miss: I read on twitter the most out of touch comment I've seen in a long time, stating that the message sent on f08 was complicated and that Facebook needed a visit from Steve Jobs to help them simplify it (dumb down).

The thing is that, unlike Steve Jobs, Zuckerberg is apparently not a salesman, and doesn't need to be adored. He even admited (in 3 cases) faults on the side of his company.

This was a developer conference, and unlike what Apple does in the WWDC the CEO actually discussed details of the platform, technical ones. As a developer with an IQ over 100 (i.e. not dumb) I'm pretty happy to see that the top management of the company is technically savvy and isn't into the business of fucking developers over and over like Apple usually does.

All in all, what Jobs does is generally more beneficial for his company. A speech from the CEO gathers press eyes and it's best for the company's stock if the half-knowledgeable technical press can understand the message. On the long term however, what get's a company value is the ecosystem. Zuckerberg clearly gets that, and it's only good.