Google Browswer - Google Chrome

Update(9/2/2008 12:25pm PDT): You can download it here now. It's a lot faster.

Google announced it will release a new browser, Google Chrome, based on WebKit engine, the one used in iPhone.  The announcement also complimented by a comic book.  The new browser will use some components from Firefox and it will be open-sourced.

Under the hood, we were able to build the foundation of a browser that runs today's complex web applications much better. By keeping each tab in an isolated "sandbox", we were able to prevent one tab from crashing another and provide improved protection from rogue sites. We improved speed and responsiveness across the board. We also built a more powerful JavaScript engine, V8, to power the next generation of web applications that aren't even possible in today's browsers.

 Four things I get out of the announcement:

1. Better JavaScript rendering - it will run complex web application (Gmail, Google Calendar, Google Map, Google Docs and other Google services) better.
2. "Sandbox" each tab - If you open Google Docs, Gmail and Google Calendar.  A crash in Google Docs will not break your Gmail or Google Calendar.
3. It's open-sourced.  Other open-sourced browser, notably Firefox, could include the new feature (though Firefox use another engine, Gecko).  It all means more browser will run Google services better.
4. People will rely on the OS less and move more towards web application.  (As long as you get a good broswer, it doesn't matter it's a MS Windows, Apple OSX or Linux)

I don't think Google wants to use this browser to beat IE, Firefox or Safari.   Instead, it's going to intensify the browser war and make all the browser better.  And ultimately make the user experience of its services better.