Google launches Google Presentations, lightweight PowerPoint-like functionality integrated into Google Docs.
Philipp Lenssen posts a lengthy review. More details are available from the Google Help pages.
As you might expect in an online app, the focus appears to be on collaboration, sharing, and virtual conferencing (using chat and synchronized online viewing of the presentation).
Stepping back and looking at the bigger picture here, I find myself getting to the point where my entire day is spent in the browser. Even on machines where I have Microsoft Office installed, I often find it faster to quickly view documents using the GMail integration with Google Docs than open other applications.
I was skeptical that Google would get us to that point, but they have. Google appears to be making remarkable progress chipping away at the utility of a desktop PC environment.