ReadWriteWeb has a lengthy discussion of the reportedly impending product launch. It’s based largely on hearsay but here are the main bullets from that post:

- The service will offer photo, video and status message sharing
- Everything shared on Circles is shared “only with the most appropriate circle of social contacts in their lives, not with all your contacts in bulk”
- Chris Messina and Jonathan Sposato are/were involved
- The core concepts are based on the work of Paul Adams, a former Googler now at Facebook. Adams developed the widely viewed presentation that diagnosed the deficiencies with current social networks (read: Facebook)

Get the full story at ReadWriteWeb and SearchEngineLand