Beside the official facebook app available on App Store, one can use the Frienatic which is a new facebook reader for iPad. It totally redefines the way we use the facebook daily with a unique UI as if someone is reading a magazine. You can view for friends updates, news feed, and much more. In other words, it is a dedicated facebook reader like no other.
The application gets a rich interface and layout of status updates and news feed items. Other features include the ability to write on the wall of friends, share stories, make comments and like stuff.
The application has been inspired by some of the iPad RSS readers but completely dedicated to facebook. It provides more visual reperesntation of your status updates which is easier to read than in a normal text view like facebook or other browsers. A twitter based application is also in work for the future release.
It comes at a prices tag of $0.99 and available world wide.
iTunes link