Ok, it's not a big deal, but it's a holiday, and thus Google replacing a link on their homepage qualifies as news. So, here goes: Google has replaced the "video" link on the classic homepage with the "products" link, formerly known as Froogle. The video link got dumped in the "more" dropdown menu with the other less worthy links.
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I could go on about how this means that Google is changing its strategy and focusing on product search, but we all know I'd be wasting your (and my) time. Google Video isn't all that interesting anymore, they replaced it with something else, and that's it.