It seems that Google is going to sell ebooks through their controversial Google Books portal. It's specific strength would be the ability to suggest ebooks based on users search words.
In a perfect world this would be healthy competition for Amazon, or at least create a climate for others (like Borders) to grab a decent share of the ebook market. But Google has been trying to get their paws on out-of-print books for free--making them arguably even more hostile to authors interests that Amazon.
The ebookstore "Google Editions" is scheduled to open in June or July. And on the up side they do not plan top wed their ebook format to any specific website or device. But most of the details about pricing and publisher involvement/control are still very foggy
My overall response is not "yay!" or "boo!" but more along the lines of "meh". Time will tell.