I'm being asked how important this apparent leak of ~14,000 #Google Search related parameters really is. My take is that it's interesting, but personally I don't think it's very important. The reason is pretty obvious. The list apparently tells us nothing about which of these factors are really used by Google when ranking sites, or if they were, how they were weighted, when they were used, and ... well you get the idea.

It's completely reasonable to create an extremely exhaustive list like that even if you never end up using most of those factors. That's the way I would do it -- figure out every possible factor and then over time mix and match from various of them as necessary, especially to thwart black hat SEO. So again, I think this leak is intellectually fascinating, but attempts to use it against Google are (again, in my opinion) probably off the mark.