There are two online storage stories today. Microsoft launched Windows Live SkyDrive, and Google now offers a way to purchase more storage space to use with some Google services (currently Gmail and Picasa Web Albums). I found these stories on Read/Write Web and Mashable respectively.
SkyDrive is an online drive. I started to sign up for it, got fed up of the personal data it demanded during signup, and then watched the video (thoughtfully embedded at RWW).
The new offering from Google is less like an online drive, and isn’t called GDrive or AnythingDrive. As the above hotquote shows, it’s extra storage for specific Google services. It seems as though you-know-Goo doesn’t want to store anything in a format it can’t understand (although of course you can make it do so by means of email attachments).