Read the article from the NYT to get the low down.
In case you didn't know, this product is essentially out there. I have one at home. It's called a computer. I envision this device to be different than a computer. It will install just as easily as a video player but be much more simpler to use than a computer. They could use either the Android mobile system as an OS or use Google's Chrome OS. Either one would give the user enough computing power to browse the web, check email, watch the nightly news and download videos from services like Netflix and Hulu.
What it won't do is handle major software like Office or AutoCAD. I see it as being a browser based OS (Chrome OS) similar to Apple's iPad, except it will have flash installed and USB ports.
This product has the potential to be what Web TV was meant to be. I'm sure there will be several different types. One that comes with a TV, one that is a standalone to hook up to your current TV, different hard drives and speed.
What do you think? Would you get one? If so, what would the price need to be?
p.s. There is also a Google Car in the works!