BigQuery: Data Warehousing with Google?

Google has added two new products to their Labs. The first one is BiqQuery, which according to Google allows users to query trillions of records in an SQL dialect via a RESTful web service. If they get their pricing right on this then I can see Google becoming a top player in the data warehousing as a service space. This one could be quite interesting as unlike Hadoop or the other players in the nosql space do not support SQL. Only problem is that there are currently no query tools that will support BigQuery.
The other product they have added is a Prediction API. This one is a machine learning algorithm implemented via a RESTful web service.