Can Google get Buzz privacy right?

Google is reworking its privacy settings again for the oft-maligned Buzz social media/email aggregation tool. Primarily, the company is asking Buzz users to review their settings, who they’re following, who is following them, and who sees public versus private Buzz posts. I actually like Buzz, but don’t work in an environment where a lot of people are communicating in a more real-time social way. Email remains king at my day job. However, I have to wonder if Buzz was damaged beyond repair by its ill-fated launch.
For any of you not familiar with Google Buzz, the company provides a handy YouTube primer:

http://blogs.zdnet.com/Google/?p=1937&tag=content;col1