I am really excited about the launch of Bing! I think that it will bring a refreshing perspective to search. What Google has done with search options is exciting but what Bing has done is to create a whole new search engine around search options. For example, if you are searching for an Italian restaurant in Sydney Harbour, Bing will enable you to first find the most relevant restaurant and then sort out the results by different criterion e.g price, parking, how sexy the waitresses are (just kidding, although would love it if they could do that) and so on!
What are the implications for SEO. I foresee that for high search engine rankings on Google, Yahoo and Bing :), comprehensive content will become key to web rankings and traffic. So if you are in the restaurant business, include as much information as you can about cuisine, menus, prices, parking, waitresses and so son. Think about your end users…what do they look for or care for when choosing your product or service and make sure it is all outlined clearly on your website.