Business owners can continue to manage their local listing information via Google Places for Business at this point in time. Google will aim to make it even easier for business owners to manage their listings on Google and to take full advantage of the social features provided by local Google+ pages features and integration across the two products.
Example of how a Google+ Local page will look:
A new video to display some added features of the new Google+ Local product can also be found here:
I feel seom key areas for this new product will be:
1. Integration of Zagat data in Google+ Local.
2. Ability for Location services to be more social.
3. Ability for businesses to let other business leave reviews.
David Mimh has also recently pushed out some information on the new Google+ Local results and ranking factors on his blog: http://www.davidmihm.com/blog/google/local-plus-rankings/