By Mark O’Neill

It’s become the biggest and fastest rumor mill of all time - what the Google Phone will be like, when it will come out, how much it will cost, what it will do, and whether or not it will spell the end of Apple’s beloved but overpriced iPhone. Will the reality match all the hype?

The most persistent rumor is that the Google Phone will be free, paid for by advertising in the same way that adverts are inserted into Google search results and your Gmail inbox. This would be a novel and effective way to market the Google phone but the British Independent newspaper quotes an analyst predicting a price tag of no more than $100. Even that would give the $400 iPhone a serious run for its money.    I for one would be willing to pay that $100 and I’m sure I’m not the only one.

It seems to be taken for granted that the phones will be ready for Christmas so, if true, 2008 will be the year that the Google Phone and the iPhone go head to head in combat for the hearts and minds of the mobile phone user. But what will the Google Phone be able to do that will knock people’s socks off and give the phone that “wow!” factor?

Well, connection to the internet obviously and probably also smart mobile versions of Gmail, Google Calendar, Google Docs, Google Talk and Google Maps with a built-in GPS.

It might even be able to make phone calls too.