Answers
What should you look for in a privacy policy?
Four things: what is collected, why, who else gets it, and how long it is kept. Vagueness in any of the four is the finding — "we may share information with partners" describes everything and nothing.
A useful policy is specific enough that it could be wrong, which is what makes it worth anything. Names of third parties, retention periods in days or months, and a concrete list of data beat any amount of reassuring language.
The second test is whether the policy contains any bad news. One that only says comforting things has been written as marketing.
Naven's states that there is no expectation of privacy or security, which is unflattering and true.