The Privacy Manager is being introduced by default for the first time in Ubuntu 12.04. It has been deeply integrated into the Gnome Control Center. There were mockups made regarding its functioning and user interface few months ago. You can now see the final interface of the Privacy Manager in the screenshot below.
With the latest update to the Privacy Manager, the mockups are finally implemented and landed in Precise. The only missing piece was the Application sorting according to usage and this also landed with the latest update. You can see a screenshot of the Application usage dialog below,
The bars above represent the usage history of my applications. There is a bug where it displays compiz as the most used application. That may be true since compiz runs all the time when using Unity, however it is more of a background process than a real application. Also the date shown in the dialog should be centered.
Apart from these small bugs, the Privacy Manager is otherwise stable, and provides the user with an array of features to respect his/her privacy. Thanks to the work of Sief Lofty and Manish Sinha, this is definitely something to be looked forward in the upcoming Precise release.