Techcrunch has the scoop on some screenshots of the long-rumoured Google Calender, called CL2, currently in testing with 200 Google Trusted Testers (friends and family of Google employees).
Techcrunch has loads more screenshots, and good detail on the product. Apparently, it has very tight integration with Gmail, which I can imagine being a very useful feature, as well as obviously helping to publicise it. Arrington's impressed with it, and I encourage you to head over there to read the full story.
I don't really have much else to say about it, other than it fits well within Google's overall strategy of organising and making searchable all people's personal data. Until it opens into public beta (which Michael Arrington says will be a long way off), I can't really say much more.