I suppose it depends on what you are trying to do.  I don't care much.  I believe most information should be as free as possible.  If someone finds that I am a sincere, well informed persona - following or seeing who I follow can help them get into a loop of high signal content and ideas.  I use other peoples follows to sift through this type high signal data.  If I follow someone who consistently boosts someone else without adding valuable original input I would much rather just follow the former.  So I find the open book useful. 

With regards to privacy, I don't say what I consider private online.  No matter what the protocol.