Golly, I hope it doesn't compete with something 37 Signals did. Like "using computers", or "eating", or "breathing". (Although I maintain that Google totally ripped off the idea for breathing from me!)
due to the recent take down of "huddle chat" I think it would be a small, feature-less non independent product.
From the article, it looks like someone just accidentally posted their own list, and then took it down.
google should buy remember the milk (assuming it's for sale). their GMail integration is simply awesome.