Basically its google's answer to Yahoo's Geocities. Still in beta testing, its not bad for getting a basic site online in a matter of minutes. Here's what I was able to do for fun:
http://watershipper.googlepages.comI think Google will soon become the de-facto everything for internet use. You need email they got it. You need webspace they got it. You need a calendar they got it. You get my drift.