When you use Google Web Accelerator, Google servers receive and log your page requests. Page requests and data sent in encrypted form using an HTTPS connection will not go through Google. It is possible that some personally identifiable information could be sent to Google, if the information is sent without using an encrypted (HTTPS) connection.
To enhance Google Web Accelerator's performance, Google temporarily caches cookies from third party sites that are used in your Web requests. For more information, please see our FAQ.
To accelerate delivery of content, Google Web Accelerator retrieves and caches webpages before you request them. Therefore, your Google Web Accelerator cache may include copies of webpages you have not visited. You can clear the cache following instructions in the FAQ.
Google announced on its blog that they've release a beta version of their new web accelerator designed for broadband use. I'll give it a shot and see how well it works.
Man, these guys are pushing out a lot of interesting products. My screen is starting to look like a Google sponsored desktop.