There's really no point in denying it anymore for the folks up at Mountain View. Google's cloud storage solution, likely to be called Google Drive, is happening. In today's Android developer Hangout when the Googlers were talking about apps, the Drive icon and name can be clearly seen in the Android sharing menu.
The developer phone in the video could have a fully functional version of Drive running on it, which would lend some credence to the rumor that the service could be launched next week. Recent rumors also claim Google will be offering 5GB of cloud storage for free, and it will sync between Mac, Windows, iOS, and (of course) Android devices.
The moment anyone noticed the little slip up, Google set the video to private. Luckily, The Verge pulled the relevant section of video before it was shut down. The fact they moved so quickly to hide the evidence might indicate that the launch is close at hand. It's going to be a tough call between Drive and Dropbox.