I am using Joomla! 1.0.13 and installed CB 1.1 successfully, I think. Looking at item 9 in the readme.txt file I can not figure out how to get to this user list or search functionality. When I select the user item (created as per instructions item 9) one can only see the current logged-in user's profile. Convinced it's ignorance from my side. Please direct me in the right direction.

so step 9 says

9) Add a new user menu item as a Link-URL and point it to
index.php?option=com_comprofiler&task=usersList
(this will be the searchable users list).
Note: if you make the menu being the first of the main menu it will
become the site's homepage.

This should make a new item in one of your menus. I named mine "Profile List" which appears in my user menu. When a user logs in they can now click on "Profile List" and be able to view and search all the member profiles on my site.

Hope this helps.

Up and running, made an all smallcaps error in pointing to usersList

Thanks for your advice

Wonderful, the small details can bite you for sure.