New Google Webmaster Tools Parameter Handling

It seems that webmasters can now ask Google to ignore URL parameters via Google Webmaster Tools. This new option appears in Google Webmaster Tools via Site Configuration > Settings > Parameter Handling.

Google "Blinky Pin" can be accessed via two different unique URLs.
http://www.googlestore.com/Accessories/Blinky+Pin.axd

http://www.googlestore.com/Accessories/Blinky+Pin.axd?cid=456

Search engines may perceive the content seen above as non-malicious duplicate content. While not penalized by Google, again WHILE not penalized by Google non-malicious duplicate content acts to thin "juice" from inbound links and often results in duplicated versions being filtered from SERPs. Google's latest addition to Google Webmaster Tools allows webmasters the option to specify up to 15 parameters in URLs which they want Google to ignore. Either way, by allowing webmasters to specify parameters for Google to ignore, webmasters can help Google better identify which URLs they want Google to crawl, index and display in SERPs.

Worth mentioning, according to Google these are "suggestions" that may or may not be followed by Google.