Give our government some credit. They don't do too many things that make sense or is worthwhile, but when they passed the requirements on the nutrition labels, they finally started earning their paychecks. Basically, they standardized the format and made it quick and easy to get the information that you want. First of all, understand that certain nutrients aren't as evil as advertised. Cutting fat completely out of your diet is a bad idea.
Cholesterol even has a purpose.
However, too much of something is not good, and Americans want too much fat, cholesterol, sugar, and sodium, so these have been vilified and avoided, when it really needs to be taken in lower quantities. Adjust this to your eating. The serving size has been greatly improved, but you still have tailor it to your eating habits. If you eat 1 cup of this per serving, double the values. Click here if you are unsure of how many calories you should get per day.