Getting to the bottom of the gPhone rumors

A few days ago rumors circulated that the gPhone would be launching within two weeks.  Now, aside from the fact that the gPhone is most likely the only thing that will make sites like this stop talking about the iPhone, is there any truth to the gPhone rumor?
The grapevine is buzzing this week over the "gPhone," Google's long-rumored mobile device that has been in the works for some time now. And while some of the rumors may carry more merit than others, history has shown that when news picks up, something is on the way.

Is a gPhone actually coming? At this point, we think the Magic 8-Ball is saying "Yes." This week's tips come after months of similar rumors that have only gotten louder and more frequent over time. In March, Google executive Isabel Aguilera "confirmed" that the company was working on a phone internally but passed off the project as one of its employees' many side projects—nothing more than a concept. But earlier this month, new reports came out of the Wall Street Journal saying that Google was courting T-Mobile and Verizon as carriers for the gPhone in the US.
So, what additional info do we know?  While the truth is, this is still just a rumor, the rumor mill is working in overdrive to the point that it seems there must be some truth to it.  If, as the article indicates, the gPhone is going to be a low-end device, the companies that need to worry are Nokia and Motorola, rather than Apple.
Tags:  Phone, rumors, Rumor, Tom, ting, One, bot