I don't want to have to go to all my friends' walls to see what they're saying. I want it to be in my feed, unless I explicitly remove it, or give Facebook permission to choose. I'm not holding my breath, though.
My impression of Facebook's feed algorithm is that it takes your activity and the popularity of posts into account. If you look at the feed often, you'll see all the content. However, if you've been away for 5-10 hours, facebook will show you the most popular stuff of that time period. It may be that they stick the rest in "under the fold" of feed, but I'm not sure.
You are correct. But then, how does it help me when my feed shows posts just because someone paid Facebook to promote those posts? If a post is going to create bad experience for me, it will be a bad experience irrespective of whether its paid or free.