Lists my places, navigating into both local and remove locations works fine. Place icons are taken into account and hidden places are added as hidden files.
It doesn't signal updates when places are added/removed from/to the model as I didn't find signals to notify changes when I had a quick glance at KIO stuff.
Also, a FolderView pointing at places:/ will show the generic folder icon as well as "places:/" title (for the latter this is expected as it uses QUrl fileName, maybe needs to also use the root item's display text somehow) but the icon should be correct at least). Adding places:/ as a places in Dolphin actually uses the correct icon.