Google announce yesterday that they will participate in the FCC's auction of wireless spectrum in the 700 MHz band. This is 3 days before the FCC's deadline to file an application to participate in the auction.
See their press release here: Google Press Center: Press Release
What's that mean if they win the C Block? Only Google, really knows... either way, regardless who wins, we as consumers will be seeing a lot more flexibility with our wireless Internet service.
The auction starts on January 24th... and it'll be interesting to see the outcome.
Check out this blog on DailyWireless.org, which has some good hypothetical situations, concerning the whole thing.