We share our offices with the BBC and they have a monitor on the wall. As I was walking by it yesterday it was doing those filler bits, and the technology one was Buzz, saying how it was going to go head to head with facebook and twitter.
So when I got home, I watched the video at buzz.google.com and for the life of me I can't really see how it's much different then facebook is. Maybe it may do some of the stuff faster or better, but for the most part, it's not stuff that I use that much like the ability to play inline videos (which facebook does too)
So I don't get the buzz about buzz yet.