The 700 Mhz spectrum auction is scheduled to kick off later this month, and while Google has applied to bid, I don't think the end result of this auction will much alter the industry landscape. Big telcos and cable TV companies will get their spectrum, and use it to drive some interesting services (most notably the cable guys), but I think Google's participation will prove anti-climactic. I don't think Google wants to operate a network, and if it actually does acquire spectrum, I think a spin-off or or joint venture with some other network firm is more likely. Spectrum auctions are big events intended to open doors for new players, but they rarely turn out that way.
While the auction won't change the industry too much, the open access issue it has been coupled with could continue to change the game. Stay tuned for more announcements from wireless carriers proclaiming open access strategies.