I posted earlier this year speculating that Google would add presentation software to their portfolio of tools. It has arrived. You can now create documents, spreadsheets, or presentations in the now named Google Docs. The presentation software is also available for Google Apps customers as well.
I briefly tried out the interface. It works very well. Very impressive for a web application. The near-instant ability to share the presentation online is also a big plus for users. It is very difficult to share a Microsoft PowerPoint presentation online without additional software.
You can view the official Google blog post.