OK. So it is a first iteration. Google is good at making a service with potential and adding to it over time (GMail bordered on BAD when it first launched, and now it is perhaps the finest e-mail interface in the cloud or desktop…) Google Buzz got me excited…because Google sees everything that happens…the torrent of Twitter, the flood from Facebook, the lavish from Linked In (sorry, had to do that). And now they’ve added Buzz.

The potential is HUGE. Google Buzz is an attempt to aggregate the social networks. This is a big play. Grabbing the social nerve from Facebook, Twitter, LinkedIn or wherever is an enormous gambit…especially if you are an ad network. If you can grab the attention, eyeballs and minutes spent and emotion put into social networks, the revenue opportunity is as big as AdWords is today (and that is a lot!).

Has Google grabbed the social nerve? Not yet. In fact this is a pretty timid first step. There is no true integration with other services beyond Picasa and Reader. No mention of Facebook and Twitter is merely a repost of your tweets to Google Buzz…hardly interesting. It seems like they’ve just duplicated the most basic version of FriendFeed.

I know that Google is focused on a good signal to noise ratio…but so far, this Buzz is pretty quiet. But stay tuned…Buzz could be a stepping stone for Google Wave to get some traction.