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Not much to see when it's in private beta.
You can see a preview of the Privacy Policy that you can generate. I hope this helps you give us some sort of advice, if you'd find it useful, beautiful, crappy and so on :P
Seems to me listing "Various types of data" defeats the purpose of informing users as to what is being collected.
Good point! Actually, those "various types of data" are explained within the complete privacy policy (http://www.iubenda.com/privacy-policy/www-iubenda-com/legal/...), but we are working on a more clever way to show the privacy policy summary. Do you have any other advice on it? To me it should look more compact, with icons and groups (similar to Facebook Apps' Authorization popup).
Also consider that the privacy policy is generated by adding the services (Google Analytics, KISSmetrics, Facebook Social Buttons, etc), and the rest is completely automatic. One of the features we are working on will allow more customization (e.g. adding the "scope" parameter for FB Apps)
Interesting! Have you looked at also generating "privacy nutrition labels"[1] automatically?

[1] http://cups.cs.cmu.edu/

Are you somehow involved in the project? I think that the approach is not so easy to understand for end users, but it can be considered as a starting point for further improvement. I'm in touch with Aza Raskin too, who released these beautiful privacy icons: http://www.azarask.in/blog/post/privacy-icons/
No I'm not involved with it ... agreed, it still needs some work; it's still an interesting direction to go. Aza Raskin's privacy icons look great but similarly I'm not sure how easy they are for end users to understand. It's a bit of a chicken-and-egg problem until they catch on ...
This needs some experiments, and we'll try to proceed in that direction. Let's see what happens, at the moment we are focused on getting feedback from website owners, to improve the "generation side" of the privacy policy. If you care about us, spread the voice and keep in touch :)