Google hopes that these kinds of speeds will allow for new development and innovation. One of the things they envision is being able to download a full movie in HD in 5 mintes!
Of course, Google is an Internet company so anything that gets eyeballs online is good for the "big G", but offering to build the infrastructure is nothing short of amazing.
Now before you get all hyped for this to come to your town, they are doing this on a limited basis. Their plan is to have this service available to about 500,000 people which is no small number, but we've got 300 million here in the US.
The New York Times has a nice article on the whole thing.
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