I like this, but the name "Profile" for the page is confusing because it is more focused than that centering on the user's privacy setting. I read the original trac ticket and saw they had that debate, but I went ahead and opened a new ticket to see if JJJ and crew will reconsider it.

I also noted that there is duplication of features with this new settings page and they might want to streamline the privacy settings control from the profile->edit pages.

Anyhow, my new trac ticket is here: https://buddypress.trac.wordpress.org/ticket/5599