I must be special or something, because my invitation to try out the new Google Spreadsheets arrived right away. Everyone is saying how this new toy is (or isn't) an Excel killer, or predict the fall of the existing software model in favor of web-based services. Unlikely, I say. Would you put your balance sheet on Google's servers? And why would anyone want a spreadsheet program that doesn't let you change the color of your borders? (One other annoyance: how do you edit content of a cell without retyping the whole thing? Oh, and no graphs. Bummer.)
Don't expect any hedge fund calculations to move googleward any time soon, but it's a nice tool that people will use together to create guest or shopping lists (a-ha, context ads!). They will also find some unexpected applications for the gSpreadsheets with its collaboration features, and that's the most interesting angle to watch.