The Google+ circles concept is powerful and easy to use. It represents the defining, foundational difference between Google´s and Facebook´s vision for social networking. If this new model takes off with users, then Facebook will find itself in the uncomfortable position of having to replicate these features within its own platform. Unfortunately for Facebook, moving to this new paradigm will not be possible overnigh…
In fact, Facebook lists already do everything he praises Circles for in this article. They might even do a little more (e.g. share with List A, excluding anyone in List B). As he correctly notes later in the article, the lists feature is not prominent on Facebook, and therefore few use it (or maybe few people actually want it?). But it definitely will not require a major architectural overhaul by Facebook.
I think the reason it isn't prominent is because it's not the direction the company wants to go. Every since Twitter became popular Facebook moved to become more like Twitter; more public and less private. They stuck the list feature in to placate those complaining about the removal of privacy but they never really wanted people to use it. Now with Google+ taking over the area of private social networking it would be interesting to see if Facebook does an about face and goes back in this direction.