Finally, there’s one list, adorned with a star, that highlights your very best friends. […] Every time someone on this list of close friends makes an update or posts a photo, you’ll see it in your feed no matter how small a change it is, and you’ll (optionally) get a notification about it (notifications are those alerts marked with a red badge at the top of the screen).
More seriously, though, the “Acquaintances” list on the other end of the spectrum is a good idea:
Add someone to it, and only the most important status changes (marriages, new jobs, etc.) will appear in your News Feed; you’ll ignore their day to day posts.
That’s smarter than having to completely mute people on your home page. But I’m sure it’s bound to break Facebook somehow if I add almost every one of my contacts to that list.