Well everyone else is talking about it so why not give my 2 cents on the matter.
Google are getting into the 'cloud' storage space long occupied by a whole raft of providers including Dropbox SugarSync Jungledisk and Carbonite to name but a few (The latter on that list is not a true 'cloud' data storage provider, more of a remote backup solution)
To quote Walt Mossberg
Google Drive, which can be found at drive.google.com, offers users 5 gigabytes of free storage, compared with 2 gigabytes free for the popular Dropbox, and equal to the free offering from another cloud storage and syncing service I like, SugarSync. That's enough for thousands of typical documents, photos and songs.
Prices for additional storage drastically undercut Dropbox and SugarSync. For instance, 100 GB on Google Drive costs $4.99 a month. By contrast, 100 GB costs $14.99 monthly on SugarSync and $19.99 on Dropbox. Google Drive will offer huge capacities, in tiers, all the way up to 16 terabytes. (A terabyte is roughly 1,000 gigabytes.) And if you buy extra storage for Google Drive, your Gmail quota rises to 25 GB.
So nothing new here then, move along move along.
Dont get me wrong, I love my dropbox. A single folder on my Mac that I know if I put anything into it is wooshed up to the dropbox servers somwhere in the either and held there for those times when even the Mac has a bad day and another hard drive goes in the bin. (on number 3 in about 8 months) Yet there is never any worry that all those essential bits of information are saved for later use.
Some may think that having 2-5 gig of free storage space is no where near enough for what they need and are reluctant to pay up for the extra space, yet I have never really had an issue with such little space. As part of a multi tierd backup solution that includes critial documents that change frequently but dont take up much space that get synched with dropbox to using an external USB HDD for items like music and video files. I.E. large files that change very infrequently.
Google drive is not a revolution in this storage space, at thier core each of the providers do the same job for a similar price. What I will say is; if you are not using any of them........ why?