Short on Google

I love bit.ly/. The simplicity of use, click tracking, and it's integration with Twitter clients like Tweetdeck make it my favorite URL shortener. But now Google's blog has announced the release of their URL shortener:
Google URL shortener is not a stand-alone service; you can't use it to shorten links directly. Currently, Google URL Shortener is only available from the Google Toolbar and FeedBurner. If the service proves useful, we may eventually make it available for a wider audience in the future.
So far, it does not have the features that make it a serious replacement. But just wait until the power of Google Analytics is unleashed on http://goo.gl/ ~ Bit.ly has already announced it will begin creating custom URLs for Web sites and publishers, including Microsoft. Google has launched the first shot over the bow in the URL shortener battle. I predict we will see a response from Microsoft very soon...