This article at NYT has a nice quotation that puts Google into a more proper perspective:
Eben Moglen, a law professor at Columbia and a free-culture advocate, puts it this way: if the fight over digitization of books is like horse-and-buggy makers against car manufacturers, Google wants to be the road.
Addendum. And this just in, from UM Librarian Paul Courant.
But Google doesn’t have anything like a monopoly over access to information in general, nor to the information in the books that are subject to the terms of the settlement. For a start (and of stunning public benefit in itself) up to 20% of the content of the books will be openly readable by anybody with an Internet connection, and all of the content will be indexed and searchable. Moreover, Google is required to provide the familiar “find it in a library” link for all books offered in the commercial product.
Of course I would prefer the universal library, but I am pretty happy about the universal bookstore.