"It's a Steal" is a strong and interesting article by John Lanchester on Google Books, copyright, etc. I wasn't sure which side I fell on in this debate, but after reading the article, I'm tentatively agreeing with him, I think. I'd let Google have all my books for this program. I think.
Would you?
For more information about Google Book Search, I recommend looking at Google’s help pages, such as “About Google Book Search,” and the Book Search Help Center, and the Thoughts & Opinions page.
Lanchester uses some kind of vague phrases around the issue of out-of-print books. For more information about how the out-of-print thing currently works, albeit somewhat oblique information, see the Help Center page on what to do if you discover that a book of yours was scanned. See also the Who profits? page.
Oh, also the Keep Your Content Protected page.