Ok, here are the screen shots and instructions. I didn't bother blocking my name or anything like that because I really don't care, lol, if anyone wants to add me go ahead. If you want to steal my identity - go ahead, but be informed that you will then be responsible for mounds of debt, quite a few dogs, a cat, and a boyfriend, lol.
From your facebook home page, click on Account at the top:

From that menu click on Edit Friends and it will take you to this page:

From that page, you can create lists of friends so that you can group them however you want - coworkers, friends, etc.
Click on Limited Profile to add people to your limited profile, I'm using my boyfriend as an example.

If you click on Requests, it will take you to this page. These are the people where you have just clicked Ignore or Deny when the friend request initially came up:

You need to either click confirm or delete. If you click delete, it will take you to this screen and ask you if you know them outside of facebook:

So that's how to put someone on a limited profile and properly deny friend requests. Now onto controlling who can see your photo albums, it's pretty much the same for statuses.
Go onto your FB page, not the main one that comes up. Under your name, click on photos:

Click on the album that you want to edit the settings on, this screen will come up. You want to click on Edit Album at the top:

A little box will come up, in that click on Privacy:

Again, I used my boyfriend as an example, lol.

Then just save your settings and you're good to go.
For your status, just click on the little lock right beside share before sharing it. You will get a little drop down menu that says who can see it, click on customize and you can choose who will see that update.
Hope that helped!