There's no way of rolling back timeline. It's permanent, at least until Zuckerburg comes with another feature. You'll get used to it over time.
It's really cool and professional one too. I've designed my own coverpage, this is a chance to show-off our creativity/social identity or whatever we want to show. here is my fb profile: http://fb.mohith.net have a look and let me know your views
timeline is active since 1 month i think..it's not a new thing.. i'm using timeline as developers since september..
A thing that made me uncomfortable is the map included in Timeline that shows where you hang out. If I don’t want people seeing that information, I have to make sure to go back to any geo-tagged posts or photos and either change the location or hide it from the Timeline. It's quite awful...
I can say that the Timeline is one of the greatest innovations of Facebook. It introduced a new look on the social networking world. Unfortunately, there's no way to remove it.