After you gain access to this data in Google Analytics (again, pilot only), you will see a new menu for "search engine optimization" under the Traffic Sources section.
Then you get access to Search Query data and landing page reports. That includes impressions, rankings, clicks and click-through rates directly from the search engines. You get it by search query and by landing page. Very useful data. Here is a chart:
Plus, you can use the advanced reports to meld deeper insight into your site by taking this data and applying it elsewhere.
Pretty cool, no?
Request to be in the pilot today.
Forum discussion at Google Webmaster Help.
Note: This story was written earlier this week and scheduled to be published today.