Google Video is a new product that enables you to search an index of transcripts from recent TV programs. It's just an early-stage beta product at this point; you'll only see stills and text snippets from shows that match your search terms, and you can only search shows from a few channels, dating back to December, 2004, when we started compiling the index. But we'll be steadily improving Google Video in the months to come, so as they say in the TV biz, stay tuned.
Google Blog