Yes, the 301 response is what you're looking for. Test a couple of your interior pages in addition to just your home page to make sure it works right, then you're good to go!

Also think of website structure for analytics. The URL structure can make it easy to get some good information about the site. Lunametrics has a great post on this at http://www.lunametrics.com/blog/2010/09/22/designing-google-analytics-friendly-site/.

To see if you did it correctly, put in the non-www domain into a server header checker like http://www.seoconsultants.com/tools/check-server-headers-tool/ and see if it uses a 301 redirect to redirect to the www domain (or vice versa, if you set it to remove the www).

If that didn't work, we're happy to help walk you through doing this! What we'll need from you is a little more information about your server. Specifically, if you're using IIS or Apache, and if you're using a content management system. That will help us give you the right info if you still need help.

I've seen mention of it on Twitter, and I'm seeing the URL directly under the title tag in my results, both logged in and logged out. I bet there will be coverage of it on Search Engine Roundtable in the next day or two.