Well, I have yet to see Google do anything poorly (maybe not as well as it could be done, but not poorly), I think that a lot of people will like Google Editions a lot, but I don't like the sound of
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...customers will download titles accessible exclusively through a Web browser...
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That sounds as if the books will be stored on Google's servers and won't be available to download to my hard-drive or reader. It's bad enough that I may not actually own the book I have bought and downloaded. If I also don't get to download it, I don't think I would ever use Google Editions. But I'm just speculating/reading into things.