I put a post up on here about a month ago when I first read an article that Google will be introducing infinite scroll. I saw it this morning as it seems they are testing it out. I am seeing the show more results button vs a true infinite scroll. I do feel if they roll it out in its entirety we will see this impact the importance of title tags and meta tags. If more results appear right on the first page the webmasters will have the opportunity to really sell their site. As I would believe users will continue to scroll over titles and descriptions until they find exactly what they are looking for. Especially since right now page on of the SERPs for one of our main keywords is more than 50% spam.
I have yet to find a site where I do not like the infinite scroll. If they make new results load automatically it is going to be great for the users. I would even have nothing against more ads in between.
I don't think they will implement it, for the reason that when you click on Page 2, you are shown sponsored ads, but if you just keep on scrolling down, their sponsored ads might not remain as much visible to users, which means fewer clicks on sponsored results and Google can't let a single penny slip out of its hands.
but if you just keep on scrolling down, their sponsored ads might not remain as much visible to users
Within reasonable conjecture, they might implement a floating right-column ad; ads anchored to the top / bottom of the browser window could replace the top of page ads when you begin scrolling down. Look for dynamic ad copy, as well, as scrolling continues. Google will not leave any dollars "on the table".