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The +1 is slightly different since it directly influences SERP position. I think, at minimum, it'll be extremely popular among webmasters and web-savvy people. As for taking out Facebook, I doubt it, but it's a small possibility. Google+ just seems more streamlined than FB at the moment, which is what FB had over Myspace. Google's revenue model is also comparable to Facebook's, so I don't see them grounded out that easily.
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