Here is more from Google's Blog:
You can add placemarks, draw lines and shapes, and embed text, photos and videos -- all using a simple drag and drop interface. Your map automatically gets a public URL that you can share with your friends and family, or you can also publish your map for inclusion in Google Maps search results. We'll continue to show organic local search results with red pushpins; user-generated results will have blue pushpins. The user-created results include KML as well as maps made through My Maps.
There is no word yet if these features will be made available on mobile versions of Google Maps.