It seems that Google Notebook launched this morning. This is a shot from the brief moment I spent playing with it.
I was kind of surprised to see that it installed a Firefox extension, but that adds a lot of functionality (right click context menus for adding a note, a little popup view of the notebook that you can drag text and images to, etc.).
You can make a notebook public, so others can view it. You can see my Test Public Notebook here.
No RSS or Atom feeds that I could find, or that Bloglines/Firefox could autodetect. It looks like it could be used as an alternate type of blogging tool, but the lack of feeds will hinder that.
All in all, a pretty cool addition, and one more thing that I can do across any computer via the web, instead of relying on client applications and local files. I’m all for that. 
TinyScreenfuls Feed (this blog)
Delicious is way better, IMHO.
Yeah, del.icio.us has a lot more features, but I see it as a slightly different product - not a direct competitor. Google has Google Bookmarks for that, and del.icio.us is the definite winner.
I see using Google Notebook as an online cross platform version of Microsoft OneNote, and there’s not really anything else out there that does that.