Would you trust Google to store all your files?
Eventually, a PDF file of the presentation was made available here by Google.
Anyway, there are already some 3rd-party service providing online storage in the gigabytes and a plugin to use your Gmail as a virtual drive but I don’t see a lot of people actually using it.
Aside from the obvious bandwidth restrictions (upstream), the bigger question would have to be about trust and privacy.
Do you really trust Google to store all your files as much as you trust a secondary backup drive or a personal DVD writer?