Facebook is rolling out a new redesign live to 80 million users tonight. We’re here at Facebook’s offices with Peter Deng, a product manager, who is explaining the changes.

The left-hand navigation bar of the social network site has been beefed up with a new dashboard for application and games. In the gaming section, Facebook credits are notably highlighted.

The news feed has been renamed ‘Top News,’ while the live feed has been named ‘Most Recent’ to make it clearer to users.

Facebook’s buddy list for chat has moved to the left-hand side of the page. Deng says chat has been “highly underrated” for a long time even though users say it’s one of their favorite features. Facebook CEO Mark Zuckerberg said he wanted to optimize chat more so that people would feel like they’re using the site in real-time together with their friends.

“Chat is a hugely popular feature on Facebook and we’ve made it a lot more accessible with people that you’re most likely to communicate with on the left-hand side,” Deng said.

They’ve also made search more prominent. Update: When you type in names, it auto-completes for people who are the closest to you by social proximity — e.g. the people you share the most mutual friends with. Not only that, Zuckerberg says that it indexes content two degrees out in your social graph.

Friend requests and the inbox icon have moved up to the top left-hand corner. Update: Notifications are now in the top right-hand corner, but they’ll be changing in about a month on March 1. Notifications about games and outside apps are going away on that date, but notifications about core Facebook functions like posts and photos you’ve been tagged in or comments on your content are staying.