"Standard Edition customers will be able to access it in the months ahead"
(disclaimer: I work on the project.)
(disclaimer: I work on the project.)
Keyloggers and password reuse are a real-world security issue. Two-factor authentication provides an extra level of protection against them.
> being locked out of your account/domain .... for most small players/home users?
The final step of configuring two-factor verification provides you with a list of one-time codes you can print. This provides a back-up way of having codes in case your phone is lost. You can keep these printed codes some place safe like your wallet or safety deposit box.
http://www.google.com/support/accounts/bin/answer.py?answer=...