This is an expansion of the existing options a user has to Make Profile Public, Make Email Address Public and Allow Private Messages.

My proposal is to move these options out of Edit Profile and into a new Privacy Settings. They are extended to be more granular -- the administrator will have an option in User Profiling to make any field or section have a user visibility setting, this adds a new item to users' privacy settings so the user can hide individual items of their profile.

7.4.x users would be able to make these fields/actions public or private. In 7.5 with the new friends list, this would give the user the option of making their data available to Everybody, Friends or Nobody, so just friends can see their email/MSN address, for example.