Forum Discussion
The option just appeared in the latest update for me, I will investigate.
My understanding is that it will hide my IP address from trackers, however the ad agencies / Google / NSA / MI5.5 are a little more sophisticated.
Every browser has components / plugins that reduce its anonymity, the Electronic Frontier Foundation have done a lot of good work here. See Cover Your Tracks (eff.org)
Stever Gibson's utilities are good, and I check our public attack surface regularly, but all browsers send a stupid amount of information every time you request a web page - see Do Not Track Header Information - BrowserSpy.dk
All that information may be useful to "customise the user experience" but do I really need to tell Farcebook my browser doesn't support Silverlight?
Most users of the interweb have no concept of just how fast a browser / web server can be if the site doesn't insert all the advertising / tracking cruft.
Consider the html5 video tag: How hard can it be?
<video width="320" height="240" controls>
<source src="movie.mp4" type="video/mp4">
</video>
Try loading up a youtub page and view source - damned if I can see a video tag