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To me this all building up the value proposition and could lead to one of the largest buyouts / mergers on the net....who knows.
Then you have great search engines like TWUUGLE (Powered by Google) coming out that provides the best of both worlds....targeted Twitter searches that yield google style search results..and often times finds more on Twitter than it's own search feature.
It is definitely interesting to see everything unfold in this new Social Social Society!
I use GoogleSocialNetwork.com
They shouldn't just limit these deals to the big search giants though.
Sites like the new http://www.Infospace.com, have been pioneers in integrating Twitter results into search.
If Twitter opens up it's data doors, I hope they spread the experience across other key search portals to keep their portfolio of partners widespread and independent of relying on top tier engines to survive.
Google won't pay to get the data. If they would, other websites (eg newspapers) would follow and ask money from google as well...
We've launched a twitter live feed option in our free business advertising service. It's early days but we’ve found a strong demand from businesses to push their tweeks outside of Twitter. Here's an article on it http://bit.ly/1Hs1pp
Really can't wait to see what happens with this Google / Twitter deal - will be watching in anticipation...