I think the feature everyone was most excited about was Google+ Circles but Facebook has parried with Lists for your Friends. I've slowly started categorizing people but my 300+ Friends looks daunting - I can't imagine people who are past 1,000. The Lists are obvious knockoffs of Circles but social media is made up of the sharing (and stealing) of ideas.
I'm still fumbling through Google+, dreading having to update yet another network and watching my Klout score go up and down like a drunk in a bouncehouse. There is no light at the end of this tunnel, no ultimate goal when it comes to social media because it never stops growing and thus your spot is never guaranteed. Google+ might be what's after Facebook but what's after that?
Twitter: The Next Generation... Tweet Long (up to 200 characters now) and Prosper