Google Drive or GDrive for Storage

Speculation is abundant about a proposed new storage system from Google. Although Google has not made any specific release announcements, bloggers are anticipating a Google Drive or GDrive for data storage. The service will be a virtual external hard drive for data backup and retrieval -- so if your hard drive ever crashes, you have a backup. Or, if you buy a new computer, you just need to download your data onto your new system. It will be interesting to see if and when Google does provide this type of service. I'm not certain how I feel about it -- having all of my data out there, and with Google's slip last week with financial statements being accidentally released, I'm not positive I would trust them (or anyone) with all of my information. I'd personally rather just have an external hard drive.