Logitech Revues support a Logitech video calling app that allows you to launch video chats with other registered users, even if they're using a non-Logitech webcam from their laptop.
Not only is this a good way to call Grandma, it could potentially be a much more professional way to hold a video conference for business users. However, the price point for the camera still seems high, and we'll have to wait to see if app developers find a way to integrate the camera with more popular video conferencing apps, like Skype or Gmail. It would be fantastic if future updates included the ability to video chat with forward facing cameras on smartphones.
If you're looking to unplug your cable, you're better off buying a cheap computer with an HDMI port and wireless keyboard. The networks aren't blocking you from doing that. Competing set-top players are also cheaper, and the Apple TV, while much more limited, has a polished interface that's easy to use.
Down the road, Google TV could end up being amazing. App developers could write multi-player games, useful utilities, business conferencing software, and must-have tools that we can all use from the living room. TV networks could discover new revenue models to make up for the loss in cable profits and decide that smart TVs weren't so bad. However, none of that is a guarantee.
Buy the Logitech Revue Google TV now if you're interested in writing apps for it, you're a bit on the geeky side, you watch a lot of YouTube, or you're just a big Google fan. Otherwise, there's still time to wait for a slicker interface.
I should note that I'm on the geeky side and have great hopes for this platform, so after reviewing the Revue, I purchased one.