Google developing heads-up display eyeglasses?

Now this is sci-fi stuff. It would interesting to know what capabilities these cool glasses will offer. Connecting to google services will be nice, but currently I can't think of anything 'cool' about those services. Do correct me if I am wrong.

http://www.theverge.com/2011/12/19/2647487/google-heads-up-display-eyeglasses-wearable-computer

Fol­low­ing up on an ear­li­er report today that Google is devel­op­ing wear­able com­put­ing devices, 9to5Google claims that the com­pa­ny might have big­ger ambi­tions than pre­vi­ous­ly hint­ed at. Specif­i­cal­ly, the rumor is that Google is devel­op­ing a full heads-up dis­play built into a pair of normal-looking, thick-rimmed eye­glass­es. Sup­pos­ed­ly the glass­es would not mere­ly be an Android periph­er­al, but com­mu­ni­cate direct­ly with Google's ser­vices instead of pair­ing with the phone — though pre­sum­ably it would need a phone for com­mu­ni­ca­tion when not near a Wi-Fi hotspot.