Google Browser

Slashdot are speculating that Google may be developing a browser.
If you do a whois on gbrowser.com , you'll find that Google has registered the domain.

]$ whois gbrowser.com

Registrant:
Google Inc.
(DOM-1278108)
1600 Amphitheatre Parkway
Mountain View
CA
94043
US

Jason Kottke blogs about it.

UPDATE:
Blogzilla ,Jason Kottke and Google Blogoscoped have updates.