We have been using Scala lately for a couple of web services that are now running in production at our startup.
The difference is huge, because Option[T] references are type-checked at compile-time. Whenever a reference can be either Some(value) or None, then you are made aware of it and you are also forced to either handle it (by giving a default value, or throwing a better documented exception) or you can simply pass the value along as is and make it somebody else's problem.
Option[T] in Scala is also a monadic type, as it implements filter(), map() and flatMap(). It's really easy and effective to work with Option[T]. In comparison with "null", which isn't a value that you can work with other than doing equality tests, None on the other hand is an empty container for which you know at compile-time the type of the value it should contain and in Scala it's also an object that knows how to do filter(), map() and flatMap().
My code is basically free of NullPointerExceptions. This doesn't mean that certain errors can't still be triggered by null pointers, but those errors are better documented. What's better? A NullPointerException or a ConfigSettingMissing("db.url")?
Of course, to tell you the truth, Option[T] (or Maybe as it is named in Haskell) is only really useful in a static language. In a dynamic language, such as Clojure, especially if you have multi-methods or something similar, well in such a case Option[T] is less useful. And before you ask, no, Go is not dynamic and people saying that Go feels like a dynamic language, don't really know what they are talking about.