As you appear to be ok with the rules as written on pg 109:
- Warp Drive: The ship warps space around it, allowing it to move faster-than-light while staying in our universe. A warp drive does not have a maximum range – instead, the ship’s drive rating indicates the number of parsecs crossed per week of travel. Warp travel consumes fuel at twice the normal rate for the ship’s power plant rather than needing a single massive expenditure in the manner of a Jump drive.
The greatest effects seem to be faster transport for better rated drives that do not need to travel at their ratings distance; lesser fuel allotment and lack of a need to accommodate a 100D limit (though one could impose a normal 'restriction' around civilized planets for safety's sake perhaps).
rust hit several good points, but I think his 'hyperspace' drives are a bit faster than MgT warp drives (2 1/3 faster than a Warp-6 rated drive).
The rules don't accommodate anything more than J-6, so if one were following them the limit is ~86% parsec per day.
From a settings standpoint (trade and colonization), this shouldn't have too much effect, except to encourage higher rated drives and longer trade routes.
The ship doesn't need to do jump checks (though some mechanic might be nice to support RP if nothing else) and can also support normal space activities (EVAs), though, again a different mechanic might be desirable.
Warp drives sort-of also negate M-Drives (except maybe a 1 rating)... since one would just switch it on and off quickly to get within system.
IIRC, this is nothing like StarTrek's warp speed - Warp 1 would take a really long time to cross one parsec...