I wrote about the importance of the Google calling service that replaced GrandCentral a few months back. Now it is official. Google has purchased an independent standard based online calling company.
Although they have conveniently removed some functionality that would of ensnared them in Federal Regulations as a true phone company, they are definitely adding functionality with this purchase.
Additionally, this doesn't just change the game for the big carriers. It changes the world for all the reduced priced providers like the Cable companies, and Vonage. It appeared that these other players only wanted to provide similar services at a reduced price from your traditional carrier. At this point just being cheaper isn't going to cut it any more. They are going to need more features, and a lower price. If Google can help it the price appears to be FREE.