Ok, so I'm probably not the first or the last person to use that sentance. Anyway, Google Base is responding to requests. See the Google Blog post for more details. This could develop into a massive tagged, searchable repository or it could just be another Web 2.0 idea that won't stick, filling up with out of date classified adverts, spam and pictures you probably shouldn't look at from work.
I can see where this fits into the Google master vision of making the worlds information searchable, but I don't quite get it yet. I didn't get the point of del.icio.us for a while and now I use it everyday so I'm no pointer for internet trends. Anyway, time will tell.