The main reason that I wish to use this is the Google Plus Hangout feature. The video is crisp and the audio is also good. Also, haven't had a drop yet. The only thing negative I can say so far is that there is no integrated dice roller like skype.
Other than that it has not thus let me down, but at this point, I have yet to actually run a game using this. I am thinking of using the other google services to better enjoy it. It already has a chat window (DEAR GOD WHY can I not roll dice with it?), but I feel that using Google docs on the side would be useful. This allows me to basically set up a private message board for each player (this may not work out because it will lead to a note passing war) and create a main game forum (mostly used for NPC pictures and other visual things, including but not limited to flagging a map for use with google maps to let the players zoom in and out of real world places).
Anyways lots of potential. My friends and I are digging it. Any suggestions that are not "move to skype" when it comes to the die roller?