I'm really interested to see if this means WebOS would compete with Android in a meaningful way. Google puts a lot of work into outreach/support/evangelism to handset makers and I think also carriers. Android's big because of being open, but also because of all of the efforts Google is making. HP is not really known for being reliable lately in their strategic direction... My prediction (for all that is worth) is that this doesn't change the landscape very much.
Totally interesting. Can't wait to see what happens.