Google is still unveiling their latest iteration of the Android OS, Froyo, at the Google I/O conference. Google believes that, with all of its improvements, Froyo has the fastest mobile browser in the world. This is in keeping with one of Froyo's five pillars; speed.
Speed will also be served with Froyo's new just-in-time compiler. Google claims (and showed) that this gives 2x to 5x speed-up of apps, all other hardware being equal. Even with complex games and multitasking, frame-rate never dropped below 40 fps. Enterprise is the second pillar, and Google intends to woo that pillar with Exchange friendly security policies and new management APIs.
Application Data Backup APIs were announced as well. The most exciting new API was probably cloud notification. This will allow you to move webpages (in mid browse!) and maps from your desktop (or other mobile device) to your Android phone with a click. Google showed this new API in use and it worked swimmingly.
Tethering and portable hotspot functionality is also coming in Froyo. Carriers will be able to disable that for you, but it will at least exist within the OS. Hopefully more carriers will at least offer tethering plans now, instead of just disabling it as a matter of form.
We have more pillars to go, and the I/O conference is still ongoing. Check out Gearlog's Liveblog for more.