lets you tell others a bit more about who you are and what you’re all about. You control what goes into your Google Profile, sharing as much (or as little) as you’d like.
So, what's the idea? It will integrate all Google services you use and give you an identity. Further it will help you to manage your contacts.
You can find Google Profile in its initial state at Google Maps and Google Reader. These profiles are public and contain basic information about yourself. In Google Maps, you will find you profile on top and in Google Reader you will find it in "Friends" tab in settings. But I found that these are not in Sync for now. So you will have to edit in both the services. The big advantage of the Profile will be in searching individuals. It will be interesting to see how these public profiles will get integrated to Orkut and other social services.
Another minor topic is the addition of support for OpenID for commenting in blogs. So, what will be advantages with this feature? Google seems to be moving to the "Social Networking" in a fast rate!