Here is a feature list according to a Google memo (colorful commentary is theirs, not ours):
Brand new UI. We’ve designed a new UI that’s applied across all clients and promotes conversations.
Stay in sync. With just one conversation list and experience across mobile and desktop, everything is always in sync. Install the Chrome app, the Android app, and iOS app.
Desktop app. Stop laying whack a mole across blinking browser tabs. With the new Chrome app your conversations continue outside of the browser.
Keep a group conversation going to coordinate with your team, and start a Hangout with a single tap whenever you need to talk face-to-face.
Be notified…just once. Get notifications on your two phones, tablet, laptop, and desktop. Open it on one and watch the others disappear. If you’re actively using your computer or phone we’ll even intelligently notify you on just one of those endpoints. Magic!
Message more than just text. Add a photo to the conversation and/or send some of the 800+ emoji to your coworkers. Kittens and poop are particularly helpful in explaining complex issues.
Get nostalgic. Scroll back in time and relive any (on-the-record) conversation, on any device.
More ways to talk. For the first time we are building a first class iOS experience. Try out our very early preview on your iPhone or iPod Touch.
This will work just fine. Unified notification, unified chat, Chrome Android and a Chrome app for desktop so I can use it when the browser is closed.
That'll do. Shits shaping up nice man, just redo the UI for Maps/Navigation and GMusic and we will be cooking with grease.
No desktop app, no care.
I'm not keeping a browser tab for Gmail, Google+ or whatever the fuck open at all times just to IM people. At least there's enough of a continuous flow of somewhat interesting things to see on Facebook to leave it open for chat.
Shiiiiiiiiiiit, thats on you brother. Im absolutely done with the days of shitty ICQ, MSN, iTunes based local 'native' clients that run like dogshit and create all kinds of weird conflicts with my firewall and PG. To hell with that.