The rumors were true. Google’s personal cloud-based storage service, Google Drive, has been released today with 5GB of free storage. It includes both free and commercial versions. The minimum free service will include 5GBs of free storage, and you’ll be able to buy additional space for up to, brace yourself, 16 terabytes  of storage.

In addition, Google Docs’ available storage for your documents has moved up within the last twelve hours from 1GB of storage to 5GBs. You can see if you have this additional storage for yourself by going to your Google Docs setting page. You’ll see about half-way down the page a listing for storage. This seems to be, for the moment, only available if you’re using the English language version of Google Docs.

Gerwin Sturm, an Austrian developer and Web designer, spotted the Google Drive smoking gun on a French Google Web site this morning: a prematurely released Google Drive announcement.

This early French-language posting, which appears to have been an early draft, is no longer available on the Google site, is from Sundar Pichai, Senior Vice President, Google Chrome & Apps. In it he states: “Today we launch Google Drive, a centralized space where you can create, share, collaborate and store all your documents. You establish a budget with your staff that you develop a presentation with a working group or hosting a seminar, you can now do it in Drive. Download and access all your documents, videos, photos, Google Docs, PDF, etc.”

So, this is more than just a Dropbox replacement. Far, far more.

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