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Sign-in with Google+ provides “Simple, secure authentication” but it will also give you a boost in rankings by providing valuable social signals. If your site has a login area, you want to integrate!
The new service is a knockoff of Facebook Connect but I must say, it was knocked off quite nicely and since Google owns the search engine too they attribute signups as social signals just the same as if someone liked your site or shared a post on it. Not to mention the intended purpose of making it easier to signup for a new site helps to increase conversions and make the site more user friendly.
I predict that we will see metrics for Google+ Sign-ins in Google Analytics reports and maybe even goal conversions.
To get started just visit the Google Developers area for “Google+ Sign-in” and grab the code. You can integrate your site in about 20mins manually or if you have WordPress then just use a plugin!