Let the hive mind of Engadget get that for you.
"I'm in the market for a new phone and money isn't a limitation. I'm also not partial to any particular US carrier, but here are some of the features I'd like to have: WiFi, GPS, good coverage in lots of places, push Gmail (a must!), physical keyboard (a must!), a touchscreen, decent battery life and a relatively slim body. And please, nothing that has a fruit logo on it. No offense to the fruit fans, though. Thanks!"
Some of the services they mentioned in the press release were location-based. You can bet this is a big part of the strategy for Google - better targeted ads, higher CPMs. Given their focus on LBS it makes sense for them to acquire Navteq:
http://www.thegpsinsider.com/2007/07/26/google-and-sprint-partner-to-develop-location-based-services-for-wimax/