Well this is kinda wacky. Citing a "very credible source," Digg founder Kevin Rose tweeted that Google is readying "Google Me," a social service intended to go toe-to-toe (face-to-face?) with Facebook. It's like Google stalking, but official, and thus marginally less creepy!
Google Buzz, their most recent foray into social networking, was not a resounding success (read: total privacy shitshow) and I imagine there's some lingering skepticism about Google's ability to actually keep all of its users information on lockdown.