It will include the ability to log-in through the settings menu, share to Facebook through apps like Safari, Maps, iTunes, Game Center, and lots of other native applications.
Facebook will also be in the Notification Center so you can launch into a status update right from there. The App Store is now peppered with Like buttons. Contact list and calendar integration is a no-brainer, which will also be available on the Mac. Finally, there will be an API available for developers that want to get in on the fun.
More to come! Keep watching our liveblog!