_What I love: _
This extension does exactly what it says. It removes the news feed, but leaves me with full access to my notifications in the top right corner, and my list of forums/groups that I try to follow in the left sidebar. This way I don't get distracted by all kinds of status updates and stuff in the news feed, while I get to use FB for what I actually need it for. If you're familiar with "News Feed Eradicator" in Chrome, this extension seems to do the exact same thing, but without the profound and non-contextualized, thought provoking quotes :p
Also: With the last update (1.1) the bug where the news feed was visible for a second or two when you first entered the page has been removed! Brilliant! :)
_One thing that I don't like:_
There are some situations where the extension doesn't work. When I go to facebook.com, there's no news feed, but when I go to the FB front page by clicking the FB-logo in the top left corner (i.e. through https://www.facebook.com/?ref=logo), I get the news feed. Still - this is a very much needed extension, so I'm giving a full star review!
_What I fear:_
Spyware. But as far as I can see, this seems legit - although I'm not qualified to stand for that statement.