AF F+ Blue cannot be compared to any elite status on an other alliance; no lounge access, no real recognition. However, on very worthwhile advantage, is a 50% bonus miles on each flight. You can also check-in in business class, and pre-reserve your seat, although this is not very effective.
If you are going to continue traveling AF next year the 50% bonus is well worth it as AF are quite generous on miles especialy on cheap tickets (except within France).
And with the new business and 1st class, and their regular 2 for 1 promo, you will soon be able to offer yourself and loved one a nice holiday.
For the oficial version look up the AF site, Frequente flyer programs - Fréquence Plus - more info - Club benefits