As a Google+ user I'm not very impressed. Google needs to open up registration and I think more people will migrate over to Google+ because everyone in the chat seemed to know about Google+ and what it is.

I wasn't expecting group calling, although that could also be due to Skype charging for group video calling. With Microsoft's recent acquisition of them and having a stake in Facebook, I am thinking they are working on more things behind closed doors, and potentially integration into Microsoft software like WP7 and W7. That doesn't mean it's as impressive as G+ features, though.

Edit: Not only that, even if they could do group video chat, they probably would have to roll it out slowly given the amount of people use Facebook. Even Google Hangouts, as awesome as it is, gets a bit strained over time.