Facebook friendship pages are here for a while, they are buried in somewhere and left with the old Facebook design. They do not blend with the current timeline design, but this is going to change as Facebook redesigned the friendship pages to Timeline design.
Facebook friendship pages existed since 2010 but many people don’t know about this. They include mutual friends, common posts, photos and events you have attended with that friend. Of course the information showed here will depend on the friends privacy settings. You will have friendship pages for everyone in your Facebook friends list. To see the friendship pages go to any friend page, click settings and see friendship. If you have updated your relationship with someone, then you can go to facebook.com/us to see the friendship page.
The Timeline update is rolling out to users starting today according to Facebook, so just wait for a while to see the new Timeline design in action.