This is hilarious: http://www.techcrunch.com/2010/01/06/video-the-real-google-phone/ (this link is pretty safe, video at link may be considered NSFW for language).
Totally worth it, if only for the Audio Neutralization feature.
So is Google going to be the ‘PC’ against Apple’s iPhone?
I’m still disappointed that Google hasn’t come out with anything really revolutionary - like buying 700 MHz and using their vast fiber network to utterly destroy the existing wireless industry with ad-supported free cellular. But if this thing fully incorporates Google Voice and Wave, it could be amazing.