A week into the public, Google plus still has yet to “wow” me. Hangouts is cool. Google itself is very useful. Not many people seem to be using Google+ which makes the experience less interesting. Time will tell how Google+ will evolve.
Facebook continues a redesign that just seems cluttered to me. The timeline feature may be interesting, but should also be implemented into pages and Wikipedia. Ideas like interactive timelines have been around for awhile, it is just expensive to afford a team to build this functionality to work correctly for a wide range of audience and platforms.