(Draft of outward Friends and Faves page; no % on people means they haven't rated enough. Ignore the typo in the header...)Now if you add someone to your Favorites list, they see you too, but in a different pile -- of FANS. You can always see your fans, check 'em out if you want (or ignore them; you could have hundreds if you're a great reviewer or make cool Top 10 Lists). On the inward facing version, these categories are separate -- but to the outside world, Friends, Faves and Fans are what you see. The similarity % are the similarity of these people to YOU, not to the person to whom they are connected. (I believe this is harder to write than to demonstrate, but i hope you can sort of visualize this).
The outward facing Friends & Faves page makes no distinction between Friends, Favorites (and fans). Just one big pile of people through which you can explore.
This is a very different proposition than the old Friends - where you have these very finite 1:1 connections. Favorites changes this, and seeing your Friends' friends changes this. Because of the anonymous profiles no one is really exposed, so it's a safe place to play and explore and look for movies.
And finally, these are just steps along a path of functionality. But this mid-September update will do some radical new things to the entire system. I count on you to tell me what you think - pro and con: let's hear it.