Huge implications in many directions...but somewhat moot (value wise) until they get past their early adopter stage. For almost everyone their real social graph is not defined well enough by Google for this to be extremely useful.
Rand killed it last night! Well balanced talk from story, strategy to tactics...extremely powerful to see the juxtaposition of paid and inbound marketing. Earned media converts so much better on all levels. However he didn't talk about the speed of user acquisition...comparing both channels.
The lean startup methodology typically works under the assumption that constant iteration is needed to get the validation of customers. Interesting to see the other side of the coin and the wrong idea of using the same approach to an instant homerun. Wish I had Bob's prob.