rango - 11:57 pm on Feb 19, 2012 (gmt 0)
If you +1 a page, then the people who have circled you will see it higher in the SERPs (a LOT higher). Depending on how many people circle you on G+, that may or may not reach a lot of people.
Now, if someone who is circled by a LOT of people +1s one of your pages, then that will reach a lot more people and you probably would see some effect.
I don't think the +1s are all that valuable at the moment, but what I do think is valuable is starting to build up your audience on G+ so you have some leverage. I imagine for the people who have hundreds of thousands of followers on G+, +1ing their own pages is probably already pretty worthwhile.