Although Google's Open Handset Platform may be their "GPhone" for now, they're not denying that they're currently working on an actual Google Phone, something that they'd take a more hands-on approach on for both hardware and software. An internal design, code-named "Dream", could be this phone.
The Dream looks like the iPhone, and is 5-inches long, 3-inches wide, touch-sensitive, swivels, and hides a full-sized QWERTY keyboard below. It also switches to landscape mode when it's tilted. On the software side, it's got Google's own YouTube, plus email, text editing, and a virtual machine for handling the browser. HTC's even considering developing a real version of this reference design in the same second half of 2008 that they're going to be releasing their Open Handset Platform phones. [Forbes]