Whether or not Google actually ends up buying the 700-MHz band, an additional player/competitor toying with multi-billion dollar spectrum is not pleasant for Verizon, AT&T, and Sprint. Such are the effects of capitalism - go Google!
Bob Cringely puts Google's 700MHz plans in perspective in his latest post - here's a taste:
"Imagine a hybrid wireless broadband mesh network using 700-MHz connections for backhaul and some truly mobile links and WiFi for local service."
With the aggregate of personal information supplied by users googling their search terms(especially while signed in to a google account such as Gmail), Google's servers aboundeth with information as to that which is being searched, purchased, emailed(your friend's Gmail emails are indexed as well), and blogged. Google owns the servers running this blog.
Mobile internet access is about to change very quickly.