I have logged case about this discussion and there is explanation from Support (Lucas Pollard )
Hey Nash, so here's the scoop!
Basically, when you enable this new field in SFDC, it will create a new field in Marketo, with all the appropriate values accessible.
We can remap this to the existing Address field in Marketo after the March release (there's currently a bug within our mapping tool).
However, once this field is mapped, it will most likely destroy the old values from the previous country field.
You will then need to update this new country field by a) importing updates via excel, if you find that to be something you can do, or b) you can create a series of smart campaigns to change the values.
In the smart campaign, you'd want to filter off of the current country/state value, and use a change data value to update the new values.
There will be some work involved, getting this all set up, but once you've made the updates, it should be automatic.
I hope this helps Nash, thank you!