So I've had Google+ for about a week, and only now have actually cared to take a look what it's all about. I definitely did not think that it would replace Facebook, and I don't think that this is going to be a fad (a la Google Wave). So I look forward to compare this medium with the rest.
The first thing I observe is how it seems to be a hybrid of two spheres: private (facebook) and public (twitter). It has already been announced that Google+ is the fastest growing social media platform, already with 10 million registered users. However, registration is not a good indicator of how well it's being used, or measuring it's engagement (I have yet to post anything on my wall, like many people in my circles).
I'm not sure how I feel about having to re-haul everything over from one to another. Already I can see where Google+ has its unique advantages, which I will comment on later. When releasing something this large to the public in future, my advice will be to release it slowly in "pockets" either by digital geography or time-zone. The risk is that if it gets bad feedback, it will cause serious damage. The advantage is that it will make people more interested, like accessing a special club. That is what it had going for the first week of its release, anyway.
I'm also curious what the demographic representation for Google+ users will be. This project looks promising, if only because the only company that could pull this off successfully would be Google.