Coming early next year, too.. they have really, really demoed this too soon.
Google clearly isn't sure about what direction to take the technology. They've espoused some vague notions about the importance of first person views and the ability to instantly capture precious moments, but that's about the extent of their push right now.
I think it's really cool that they're interested in getting devices into developers' hands to help them figure out where to take the technology.