I hear people like the features but haven't seen the results. Cant wait to see the business side of it.
Doesn't do anything for ranking. It's just another data set for them to look at, and realize is useless because it's so easy to game.
It seems this is slowing coming along, but I did hear the features are good. I still prefer Facebook.
They claim that it does nothing to the regular search results. However, if you are logged into Google, and one of your friends has +1'd a certain website, that site will show up in higher in the rankings for you than it normally would. SO... it's not about the total number of +1's you get, it's about how many different people you can get to +1 your site, who regularly stay logged into Google services.
as google+1 is an ethical element of ranking, so be patient, ranking may get better after a while, and google+1 is used by google to track better search results.
It may an effect on those rankings that you search for while being logged into your Google account. The sites that have a greater + count are more likely to come up more at the top and vice versa. But still have to check out for myself though.
This is exactly why you shouldn't worry about Google +1. There's nothing you can do to improve your results with it. It has to be natural. Don't even think about trying to manipulate it.
A bit to soon to tell I think, its only been a few weeks but from what I am reading people reckon that is how Google might lure people to Google plus. So you might want to get a head start.
I really don't like the name. Google+ 1... I mean..???? unless if they acquire plus.com domain, then that would be another case.