Privacy legislation encourages (forces) transparency, which is a good thing.
Are consumers comfortable about companies using their information for marketing? Yes, if companies do so with care and with relevance, creating customer experiences that the consumers want, and presenting consumers with information they have indicated they want (or have asked for explicitly).
It’s all down to the value exchange, based on consumers giving permission via their social media activity (they are choosing to Tweet, like and friend). Better still, if this implicit permission is made explicit by the marketing organization, another level of permission has been introduced, consumers remain in control, companies are focusing on customers or opportunities that have declared their interest.
Companies can then do the right thing by the consumer.