It is interesting that Google is reported to have acquired the domain name Gbrowser.com. If you do a search on the name, you find that it is reserved. Now why would they do that?
A news story in the New York Post said that four people who worked on Microsoft's Web browser have recently been recruited to work at Google. However, Google declined to comment on the online reports and said it had announced no plans in this area. --Economic Times
One thing is certain: Google plans to do something with Gbrowser. Whether that "something" is a browser limited to music and image searches, or whether it will be a full-blown competitor for Mozilla and Internet Explorer remains to be seen.
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