They just finished the Thursday morning keynote here at the Google developer conference which was mainly the initial presentation of
Google Wave, which is a well thought out communications engine. Think GMail + LJ/Blogger/Wordpress + IM + Subversion + Basecamp, all with Google Maps and YouTube and Flickr etc. all built in and lots of realtime zippiness.
Rosy, the auto-translating plugin, is incredibly cool. An obvious application of Google Translate, but I think it's really going to change the world. The ability to do online collaboration with people who don't speak the same language is the awesome.