pages.google is an excellent Web 2.0 application from Google. If you have a google account (simply a gmail accont), you can easily create a homepage as http://yourname.googlepages.com. In addition, google gives a 100MB space for storing your files. I've used a part of it by uploading my project files and some screenshots of them.
After Google introduces googlepages and some technology news websites informs us about it, many people registered and started to try its features. As an expected effect, google alerted against this heavy demand, stops accepting new registerations.
The problems that I saw at the beginning was:
Text coloring, font and text size selection does not work in Firefox (I'm using version 1.5.0.1)
An image added to the page comes with a link to the original file as default. This causes an ugly blue border around the image.
You are not allowed to edit the header of a page as HTML.
It is not possible to customize the CSS code of the template.
You can use the sidebar to add the pages in your website as a navigation bar; but when you add a new page and want to show it in the sidebars of other pages, you have to edit all other pages. There can be an option to use only one sidebar content in all pages.
Remember that this is a BETA version. But for a first version, I think Google made a good job.