Here is what Ellis Hamburger says to describe his amazement of what he saw:
Just wait until you see Timeline in action on a touch screen device. It's so good it will make you want to skip the desktop experience and just use Facebook on your iPhone. Timeline is built to be manipulated on a touch screen.
Facebook via its Facebook's mobile Timeline interface lead designer, Joe Flynn, did not mention about the exact release date of it, but it will be soon, after it's completely finished! It means we have to wait.