There is an interactive discussion taking place at WebmasterWorld on the new Google Personalized Search. The thread at WebmasterWorld is named Google Personalized searches and people are providing feedback, suggestions and concerns over the service.
I tested it out a bit by setting my profile as: Internet, 1960s, 1970s, Rock, New York
Then in hope to find music on the Internet from a local new york store that focused on rock from the 60s and 70s, I did a search on music.
The first result contained the copy "If you've tired of the music scenes in Seattle and New York's East Village, the only place to turn is a Web server in Finland." New York is in the copy, but this site is explicitly about being tired of the NY music scene, plus its on all genres.
Try it out yourself, it has this cool sliding bar that you can use to minimize or maximize your personal settings. The color balls on the left mean "The balls indicate which results Google thought were more relevant to your search, based on the interests you entered in your profile. As you move the slider to the right to increase the degree of personalization, these results move closer to the top."