Ok thanks everyone for your ideas!
I agree with you all that the ‘Publish’ vs ‘Public’ naming probably won’t make much difference. Here’s what I ended up doing.
As you can see, I took @yukitanuki suggestions on radio buttons. I am defaulting to your profile’s privacy but in the case of public profiles, I default you to ‘Profile only’.. what was ‘semi public’ before. I changed to profile only because I thought it was a little more clear. I also added better descriptions underneath the radio options.
Also, if you choose public, I have an additional warning right above the submit button.
Hopefully all these changes make a difference - especially the default to profile only / semi public!
As a side note though, I forgot how sad the create / edit list form is! I will definitely be updating this UI sometime within the next week. That submit button at the bottom of long lists is so sad 
Please let me know your thoughts!
