Google +1 ....better than a tweet?

In the never-ending feud between Google and Facebook, Google has once again tried to get an edge-up on their social networking arch nemesis. Their most recent effort, entitled Google +1, is their latest foray into social media—and quite possibly their most significant yet.
So, despite Google's increasingly populated social media graveyard (R.I.P Orkut, Buzz, Lively, and Wave), they are trying again, with Google +1.
What Is It?
Their newest project is curiously similar to the uber-popular Faceboook “Like” button. Like the “Like” button, Google's +1 appears as a small icon on web pages and next to Google's search results. The little icon is often found next to a Facebook “Share” or “Like” button, or next to Twitter's “Tweet” icon.
How Does it Work?
When a user clicks on the +1 icon it will turn blue, indicating that they have approved the page for others. The sites that users vote for with their +1 rating will be stored for later viewing.
As a website owner your site will continue to earn +1 votes from your users, and the total will show up in search results and on a counter on your webpage. The more +1s your site receives, the more popular it becomes.
Why Does it Matter?
Google +1 matters because Google matters. Even though +1 currently has little to no effect on Google search results and ratings, it will. Google has already indicated that along with their Panda algorithm update, an update aimed at creating higher-quality website results in Google searches, +1 will help them determine the most valuable sites on the internet. Using a user-voted system makes sense to the search engine giant, as real users vote for +1 and this will help them eliminate black hat-tactic using websites.
Another reason it matters
Google +1 is becoming popular. In +1's short lifespan of just a few months, it has already surpassed the popularity of Twitter's “Tweet” button—and has risen 33% in popularity and adoption rates since its inception. Already 4.4% of large websites use the tool.
We would love to hear your thoughts. Tell us what you think of Google +1