For some developers, this could be quite big news ...
First saw it on TechCrunch:
"... Google App Engine, an ambitious new project that offers a full-stack, hosted, automatically scalable web application platform consisting of Python application servers, BigTable database access and GFS data store service ..."
Google App Engine
According to Mike Arrington, the Google App Engine site is down till it launches.
See the Google Blogoscoped post about it for some more information ...