I think the hype for Google+ will die down really quick. There are only so many outlets to a user can turn to for social media, another one will just take more time and effort out of my day.
I doubt it... many people are eager to drop facebook. Maybe not a vast majority, but enough users will make the jump to make Google+ a viable platform almost guaranteed. I mean theyve already got over 5 million users and it still in field testing. I have been using it for a few weeks now and while I dont really see any advantages over facebook, other than security by default (circles). There's just something "dirty" about facebook that compells me to like G+. For all those anti social site naysayers; you cannot deny that these sites have revolutionized communication. If you avoid all the fluff (apps, games, bullshit) on facebook, it is fundamentally an excellent platform for bringing minds together. But even more so for allowing people all over the world to be heard; look at the role it has played in Egypt and elsewhere. Facebook or otherwise, there is a place for these things whether you agree with it or not.
My only REAL concern here is the association with my Gmail account. If ever the G+ account is compromised, via API or whatever, they inherently have access to my email account. Personally I would prefer to disaccociate the two, but until its proven insecure I will give it the benefit of the doubt simply because its a better (IMO) alternative to facebook.
In any case, I think facebook needs the competition, its never good for the users to have only one choice in any market.