For the TechNet Library article, see Implement Password Synchronization.

I am posting my summary of the new Dirsync with password sync for Office 365:

A  few things I have noticed here -one the PASSWORD sync in seems to be storing the hashed passwords DirSyncConfigShell.psc1 file  

 You need to run a force sync from powershell no longer can you use CMD
 Two there is a change of Event ID's there appears to only be 0 & 902 (no 2, 3, 5 & 4) now for delta syncs when there are no  passwords changes.  There is the 656 & 657 as mentioned in this article on a password change but there are also 653 & 654 (pings).

When testing in another  environment that had ADFS  & Remote SQL there were two different Event ID's 105 & 114  

Regarding the DirSyncConfigShell.psc1  file if I remove what appears to be the hashed passwords (mentioned above) refresh & then change a password for an AD user - the DirSync actually appears to run automatically whenever a password is changed. 

So, to me it appears that the ping or service is continuously  checking for changes and it is using  the DirSyncConfigShell.psc1  file  to verify changes or details regarding the   users’ passwords.  

And as I mentioned most of the Event ID's used for tracking the process of a Delta or Full sync appear to be replaced with  902 . Maybe if I run other sync stages they would appear but as I mention

So, when a Delta Sync is run and no password changes occur I get only 0 when staring and 902 when finished for the Event logging; this was when installing with the Wizard .
But in the other environment  I get 105 & 114 
& this was intially a powershell installtion for the SQL  & then I ran the wizard afterwards.
I have submitted my findings to Microsoft & am awaiting confirmation of my results.

Additional Resources