@Mike Taylor - recent stories doesn't work the way you think/hope it does
I used to use it, but found I was missing a lot of updates that I could only see using Facebook's default settings. Facebook filters your updates for you to reduce the volume, and apparently the filtering algorithm is more aggressive when you select recent stories.
For some people that may be fine as they want to see less - probably especially those with 1000+ friends - but when I compared the two I found I was missing stuff I would prefer not to miss, so I'm forced to use their annoying presentation. I'm sure I miss stuff anyway, because I don't always scroll down far enough to be certain I didn't miss something new, but at least I'm missing stuff due to my laziness rather than because Facebook decided I didn't need to see it.
IMHO, they've clearly gone out of their way to make recent items as non-useful as possible so as few people as possible will want to use it. I presume because when you have to scroll down through a lot stuff you've already seen, they have more room to insert ads.
If someone invented an alternate Facebook client that was able to scrape the web page to get your feed, reorder it into recent items, block all the ads/sponsored content and so on, I'd happily pay for it. I'm sure Facebook would do whatever they could to hamstring such an app since it would destroy their business model, but so long as they make it possible to access via the web, I don't see how they could do anything more than play a cat and mouse game requiring weekly updates of the app. I wouldn't feel a bit guilty about cutting out their advertising, considering how they've gone out of their way to make Facebook harder to use to make more money off me.