Lookout didn't see Google coming
The Google Desktop Search isn't new, it was out last week. What is new is that I've uninstalled Lookout Search for Microsoft Outlook since I really don't need two search engines for my e-mail and files.
As I created the hyperlink to Lookout (above), I see that they came out with a new experimental version. All I see are bug fixes and minor feature updates (" Added option to display full folder name in search results").
I think it excellent that the original authors of Lookout sold out to Microsoft before their market was commoditized.