This could have a major impact on school libraries as well as textbooks for students / teachers. If it makes them easier to access then more students and schools who could not otherwise afford the latest edition of a book may be able to get access like never before.

Only time will tell how things shake out. Will the Google E-bookstore go the way of Google Wave or will it be the next hit for Google like Android has been? How else do you think this new venture will help students?