Today at the Facebook F8 Developer’s Conference. Mark Zuckerburg, CEO of Facebook unveiled the biggest and most ambitious upgrade to the platform to date. The biggest new change is the a new feature called the Timeline. Previously, viewing historical information in Facebook was a cumbersome task. The news feed is designed to live in the moment and it was very difficult to dial back the past. The new timeline feature solves that problem as it will let you browse not only your’s but your friend’s historical posts. Think of it as a giant Facebook scrapbook.

The following video illustrates the new Timeline feature better.

So far the timeline has been met with mixed reviews. I suppose the test of time will tell if this turns into the next big thing on Facebook or if it will propel Facebook into downward spiral of MySpace.

Coming up Monday, a new feature that lets you easily group and manage your friend’s status posts.