I believe that Facebook will attempt to grow both apps in such a way that an synthesis will occur taking the best of both. My guess would be Facebooks User base and Instagrams culture and feel.<p>What would you take from both if you had to mix them together and what is the best strategy?
I think Facebook will let them compete. They both cater to different needs: public (Instagram) and private (Facebook). This is good for Facebook as privacy conscious users can safely share using the Facebook Camera app and as long as their default settings are correct they don't need to worry about accidentally sharing publicly.
I don't think Facebook, er...Zuckerberg, even had a plan in place when they acquired Instagram. I bet it will be a while before we see any kind of strategy since Facebook is probably still trying to figure out exactly what to do with Instagram, so they might stay separate for a while.