This is great news.
An application environment that can host with the scalability of google itself.
And whats even better currently the engine is implemented in python.
Python is a dynamic language a la ruby. And created by a Dutchman ;-)
It's fully object-oriented. and it is fun to work with.
here is a video on how to develop with the google app engine
As you can see the development process is way faster than the development process of lets say Java.
Here is a video of the introduction of app:
I already have an account and will experiment with in the near future.
BTW This is a real cool way to start working with Django
