Your customers can now create and edit as many saved addresses as they wish and set one address as the default shipping address and one other address as the default billing address. When they are logged into your website these addresses will automatically be filled into the checkout form. This reduces the data entry that your returning customers need to place an order and reduced an area of websites that is prone to errors.
In the near future users will be presented with a drop down list of all of their addresses so that they can easily choose and address to switch to on the checkout form, making it easy to have several addresses and place orders to be shipped to different locations