def. has the potential, but I see a few key roadblocks at the moment:
1. Yes it's better than Buzz and Wave, and yes they have a huge advantage with Gmail integration...but honestly it's still too complex a system for the average Joe. It takes too much (continued) work in it's current state to be something everyone
is going to be doing.
2. It's unclear how open or closed the system will be until we see the first bits of an API...without the API, we are at the mercy of using everything however Google wants us to (which isn't always how users want to)...the API will be very
telling on just what the service will/can become (how easy will it be for people to build custom clients? how easy will it be for people to use the service in ways that were never imagined? how easy will it be to build/play games? If it's easy for all of these things, people will continue to flock and engage here).
3. Google's advantage to date has been in 'finding' stuff, not 'generating' stuff...right now Google+ is almost entirely about generating stuff (and in fact, it's pretty darn hard to 'find' anything here)...how they evolve/tackle the problem of pointing out the right content to each user at the right time is IMHO the real key to their success. They should
be able to solve this part of the problem better than anyone else right now (especially better than Facebook and/or Twitter) and that would go a long
way in servicing the 80% of people that just want to read stuff and rarely (if at all) generate stuff. [[disclosure: I'm biased here as this is pretty much what my http://knowabout.it
project is aiming to help with as well]].
...anyway it's still early in the game and so it's hard to say what will happen...but I'm glad I'm here and along for the ride...and I'm glad that players like Google continue to get back in the game as it helps to keep pushing all the social services forward!