Google has just put up a blog post announcing Google Cloud Print. The goal of this new service is to enable any application on any device to print to any printer. It's no stretch to say that this is one of the single most ambitious projects that Google has ever embarked upon. Google Cloud Print is still under development, but you can see the documentation, code and outline now.
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Here's how it'll work. Applications will submit a print request through the GCP's web-based API. Google Cloud Print will send the job to a selected, registered printer. Old printers will have to connect to the service through a proxy, but the “new class” of cloud-aware printers will be able to connect directly to the service.