The best part, you can view other people's public list and follow their list.So now will have options to "Follow" people as well as "Follow This List".
Twitter define list feature as:
Lists are timelines you build yourself, consisting of friends, family, co-workers, sports teams, you name it.
But Shhh.. only a small group of people are receiving this feature so keep it quite... If Twitter selected you among that small group then you will see this announcement at the top of the twitter page similar to a screen shot above.
You can view & start following twitter team list at http://twitter.com/twitter/team.