While not a replacement for Instagram, Facebook Camera is a good first step in this month+ old union of the two companies. Released today, Facebook camera looks to streamline the viewing of photos and the uploading of them.
The app allows you to apply simple filters to images, tag people, upload multiple images at once, and post a note about the group of photos you are uploading to your timeline.
In quickly testing Facebook camera, it's a very well made app. Much better and more reliable than the main Facebook app for uploading images. Perhaps that is their plan? The only feature I was left missing was the ability to specify an album to upload images into.
Worth checking out if you upload images to Facebook regularly.