Microsoft released an update to Windows Phone 7 Facebook application, which now comes with a massive performance increase, inclusing some noteable new features, such as: Facebook Places (with your GPS, too), in-app photo tagging, as well as allowing the app to continue running under screen lock.
The update also features a new interface, with larger fonts, and the app is responsive to the touch while still loading. However, the app keyboard still doesn’t match the application coloring, for e.g. when the dark theme is selected, the keyboard shows up black even though the entire app is white and blue.
To get the application, go to the applications page on Zune; or visit the marketplace on your phone to grab the update.