Google doesn't want it to call it that. Much fabled GDrive is here but they are not promoting it as GDrive. It is associated with Google Docs. You can upload files if it is smaller than 250 MB in size. Apart from the office formats, you can upload audio, video and even zip files. It is really a boon to users. We thought it will never come. According to Google Docs product manager Vijay Bangaru it is something to look into.

Like other Google Docs files, GDrive files can also be kept as Private, public or shared. You can even view the files in Google viewer. But video files are not supported. For regular users, first 1 GB is free and further can be bought at $ 0.25/ GB.