I don't think the new Facebook Graph Search will be of much value to me.
I don't care to search on things that I or others have clicked Like on. What I want to search on Facebook is my own content, to track down certain articles I've posted, that are now buried and require laborious scrolling to find.
I don't see any value to searching things like "music liked by people who like Jody Foster and Lance Armstrong". There may be some value to connections and combinations of Likes, but I'm not interested in what anybody else likes, as I value my own judgments over those of my peers.
If I'm in a strange town, I don't see any benefit to searching "restaurants in New Orleans liked by my Facebook friends". Who says they're an authority on fine dining? Maybe they prefer fast junk food, while I myself want to eat at organic health food restaurants whenever possible.
This whole orientation toward discovering what celebrities or friends like, and then imitating them, seems to be based on a conformist, insecure, dependent, easily influenced mindset.
To base search on quantity of Likes is one form of value, but I much prefer the Google search logic of links. It's easy to click on Like just to be nice, but when you link to a web object, it implies a far more serious and deeper commitment to the object.