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See here, the option to add a specific, targeted update to your profile, but retrospectively. The great thing about this new timeline is that you can go back and swap, edit and change content. However, as you will find out that the timeline does get a little personal at times -- personal even for Facebook. You can see here that you have the option to add "losing a loved one", which in my books is pushing it too far.
Your likes, music and other content that you have on your profile remains the same, still. You can also go back into your activity log and see your 'likes' from years gone by -- seeing your developing tastes in music, events or other things you engage with on the site.
Facebook, using Microsoft's Bing Maps, allows you to see on a map where you have used Facebook 'check-in'. There are already third-party applications available on Facebook to do this, but it is nice to see the social network natively supporting a map-view of where you have been and when. Of course, you can categorise and edit your timeline from here, to add other content to your check-ins retrospectively.