Many of the community's concerns are addressed here, but it is clear that Blizzard is moving forward with its plan to turn Battle.net into a social gaming network in some capacity. The company stresses that much of this information is subject to change as development on Battle.net and its games continues.
One of the central complaints -- that friends of Real ID friends could see a player's real name -- will be addressed:
We recognize that some players would prefer not to be displayed on friends lists in this fashion, so we plan to include an option that will allow players to opt out of appearing on their Real ID friends' 'friends of friends' lists. We're anticipating this feature to be available for StarCraft II shortly after release of the game, and World of Warcraft at around the same time -- we'll have more information for you in the coming weeks."
If you have concerns about Real ID and Blizzard's plans, do yourself a favor and read the full FAQ. It certainly won't answer every question, but should at least clear up a lot of misinformation surrounding the controversial program.