The more I think about Google selling domain names, the more powerful this news really is.
There are a number of possibilities I see here.
Early this year a blogger decided to sell advertising space for his blog on eBay. Well register your domain w/ Google and they will provide a revenue generating ad campaign thru their keywords platform.
Google could offer free registration of domain name, providing you put a Google search bar somewhere on your site..the Google dominance would grow exponentially this way.
When you register your domain, Google provides a 2-d code that you can use for all physical documents. This would allow you or the interested party to get a direct link (thru camphone or texting) right to your site ...
A physical world browser.
Hey MSFT you paying attention?
Thats how I see Google could create their own mobile browser.
Maybe those job listings for dark fiber contract guys really means Google wants to create their own internet of sorts.
Not only do you register your domain thru Google, you advertise thru Google, Google can maintain the web analytics side of all of this traffic...AND providing a 2d spot code, they can tap the physical world advertising too.
I see more revenue, more revenue, more revenue.
Throw in the new guys they hired from FireFOx for a Google browser and man the possibilities start to really flow.
Maybe im going out on a limb with these thoughts, but it seems plausible.