How about more member controlled privacy settings and the ability for members to create groups in addition to friends? I'm NOT talking about the groups feature that exists now.

In other words, members may want to create a group called 'colleagues' , or 'Family Members' , or 'private', etc. Members would then be able to add other members to these groups and be able to set the privacy setting so that certain content is only visible to members of these groups. This takes the suggestion of private see more albums a bit further. Every members needs are different, so I believe would be necessary for members to be able to create their own groups. There could be an admin function to set the maximum number of these types of groups a member could have.