As is the case with other Android 4.1 updates, the Galaxy Nexus will benefit from enhanced notifications, Google Now, smarter widgets, and more. Verizon has a support page set up for users which outlines all of the minutiae and might be worth a quick glance for those not up on their Jelly Bean game.
It's frustrating for some that Verizon has taken this long to deploy 4.1 to the phone, especially considering that the carrier was the first in the U.S. to offer the then-cutting-edge phone. Nevertheless, the JRO03O update is finally here and ready to download. Galaxy Nexus owners are advised to connect to Wi-Fi and navigate to Settings > About Phone > System Updates to start the update process.