I find it sort of amusing that Google is interested in the ".lol" TLD, especially when the post is authored by Vint Cerf. While I have my doubts about how much of an impact the new TLDs will make in the domain market, it's nice to see things shaking up a bit. Almost like the discovery of a new continent in the real world, with only rich people being able to get to it their fancy helicopters.
Also makes me wonder if this trend continues and leads to a TLD-less type of keyword DNS system at some point, where typing "facebook" in the address/awesome bar takes me directly to Facebook (versus some intermediate search page).