I don’t know about you, but if I’m checking Facebook on my iPhone, my priorities are one of two actions: add something new, or see the latest from my friends. So it baffles me that they would devote so much space at the top of the main view to friend suggestions. That feature is not important to 99% of mobile users, 99% of the time (yes, numbers plucked out of thin air… so sue me). By all means include the friend suggestion feature, but put it in the friends view.
[*] Yes, the image is slightly contrived by showing the screen in landscape orientation, but not much. I see one extra status update if in portrait view.