"According to the details from my sources, Google is going to offer 1 GB of storage space for free, but will charge for more storage. The market leader Dropbox currently offers 2 GB for free. Google's product will come with a local client and the web interface will look much like the Google Docs interface. Interestingly, it will launch for Google Apps customers and will be domain specific as well. Google has also built an API for third party apps with this service so folks can store content from other apps in the Google drive. My sources are impressed, so far with what they have seen."
Google has fumbled in the past like with their initial release of Google Music without any record labels, which they later fixed. Google Play could to have ties to GDrive for storing things like digital movie content. So the potential exists for big results from Google Drive."