It offers users the ability to build and host web applications on Google's infrastructure. Costs nothing unless you get a lot of traffic and/or use a lot of resources (database or CPU). Applications can be written in PythonLanguage or JavaLanguage.
How come there are not any on-line examples?
Is not good enough?
Neither, really.
I'd like to see something like web-based VB-classic: click and drag and set properties.
Sounds like a great idea for a Google App. Let us know when you've got it working.
See http://code.google.com/appengine/ for more information.
See also CloudComputing