I'm surprised Google would make a mistake of such magnitude. Anyone who's read Tufte would know not to do this. They've effectively reduced the data-ink ratio of the page, when you weight each pixel by its proximity to the upper left corner.
http://www.infovis-wiki.net/index.php/Data-Ink_Ratio
http://inspiredimpressions.files.wordpress.com/2006/04/Googl...
Oddly enough, it would actually be better if the left bar were entirely boilerplate, because that would make it easier to tune it out.
http://www.useit.com/eyetracking/eyetracking_corporate_site_...
Then the new design would merely waste space. Filling the left side of the page not merely with crap, but with changing crap, is the worst case scenario.