Is the world ready for Google TV?

Google just unveiled an ambitious new project called Google TV, a new system that would bring the Web, online videos and all the goodies the big G has to offer over from your computer and onto your TV.
The video above does a good job of explaining the deal, but here's the boiled-down version: via either set-top boxes or through TVs with Google TV built-in, Google software and hardware will treat live TV like any other web content. That's to say, you'll be able to do a search for 30 Rock and it'll find all episodes coming up for you to watch or record as well as all episodes on places like Hulu and Netflix.
With more robust features like Android app support coming as well, it seems like we're just seeing the tip of this iceberg. Will Google be able to successfully infiltrate your living room? Time will tell, but my first impression of this is that it's very, very impressive.