Well, per individual figures you can get some neat effects that you'd normally have to use morphs for.  Bellys that jiggle as a character moves, breasts that react naturally. Those are things you can do for sure.  I just haven't tested the two character thing myself so I don't want to make promises off of another person's comment you know?  But like the video here shows, you can set up some really cool effects on a character:

 

http://youtu.be/2tEv7wTut1w

 

Now imagine capes that have been given this effect. Or flags or drapes or even bed sheets.  There's lots of room for exploration and testing the limits of what the feature can do. Time will tell about the collision between two figures (I'm sure someone will try that not long after the 21st) but with what we know for a fact can be done, it's an exciting time.