We can not actually buy bitcoins with paypal just yet (or we may never actually be able to). It is only that you can withdraw your coinbase funds to paypal directly and that's it. It is actually a one-sided operation so this is not really a partnership. Sorry to disappoint you guys about this news because you guys obviously did not read them.
Thats right, only Bitcoin to paypal. Its pretty useless to me but maybe someone finds the conversion Bitcoin to paypal useable. But if it was paypal to Bitcoin then I could finally transfer my remaining paypal ballance to Bitcoin. Not sure why they cannot do it in both directions, probably its too easy to hack user logins to paypal accounts and you cannot reverse Bitcoin transactions.