Sorry, but can't see the point of Google doing this.
I have 25Gb free with my Hotmail account (which can be accessed from any PC also my phone)
I have 50Gb free from Box.net (which can be accessed from any PC and also my phone)
I have 3Gb free from DropBox (which can be accessed from any PC and also my phone, but more importantly, actually syncs over all my devices).
Because of the syncing, DropBox is the only one of these cloud storage services worth having. Unless Google are going to do something to make themselves stand out (and if they are, why not do it at launch) then this is just another Google "Meh" service.