11/18/2013 Update: Important: The WSU Libraries migrated from WSU WorldCat/WorldCat Local to Search It/Primo in mid-December 2013. Griffin and WSU WorldCat links will no longer work, and if you have a WSU WorldCat account you will still be able to see your saved items if you log in to Open WorldCat (www.worldcat.org), but saved lists and saved searches in WSU Worldcat did not transfer to Search It (although Search It has something similar: see the EShelf). You can still see and search WSU WorldCat, but you'll see it is not fully functional - click here. Summit is still functional; you can find it here.
A WorldCat profile is key to the most useful functionalities that WorldCat provides. Your WorldCat Local catalog may look a little different than the shown WSU WorldCat, but you should see a WorldCat sign-in link in the upper right corner. Once you have created an account, you can create a profile and start adding lists, saved searches,watched lists, etc. (You may even find that your WorldCat account has been tied into your regular library account, so that when you sign in to your library account (i.e. to request a book) you'll also be signed in to your WorldCat account. This is how it works at WSU).
I've actually created two WorldCat accounts. One is personal (not really, though...), and the other is what I use to create lists, etc. for my subject/liaison librarian work. Profile and indivual profile elements can be public or private; public profiles can be searched (first or last name, or WorldCat user name) by selecting the Contacts option under Search.
If you can't make out the image below, just look at it on line here: Example