It's been a very long time since rumors of GDrive have surfaced, and I all but gave up on the idea. Reports today make it sound like Google is still interested in working on it, but gave no indication if it's actually currently being worked on, or when it would be launched. This is still interesting to me because it's the first time I've heard anything about this project from someone at Google.
While sitting down with a Gmail project manager, Todd Jackson, cnet's Josh Lowensohn discussed a couple future features. At the end of his article, he quotes Todd as saying:
"We know people's file sizes are getting bigger. They want to share their files, keep them in the cloud, and not worry about which computer they're on. Google wants to be solving these problems,"
If and when it finally launches, GDrive will likely let you store files in the cloud instead of on your local machine. Ideally, interacting with your GDrive would be as simple as using a physical drive on your computer. Josh thinks that when it's launched, it will also be tightly integrated with Gmail.