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Looks like every detail page has links to buy the book at Amazon, B&N, or Books-A-Million. There are some sponsored links down at the bottom of the detail page, but not on all searches. There's a "Google Print FAQ" link at the bottom which states:
On Google Print pages, we provide links to some popular book sellers that may offer the full versions of these publications for sale. Book seller links are not paid for by those sites, nor does Google benefit if you make a purchase from one of these retailers. In addition, these pages show contextually-targeted AdWords ads that are served through the Google AdSense program. During the initial phase of this beta test, advertisers will not be charged for clicks they receive on these pages, and neither Google nor the publishers with whom we work profit from these ads.
Not really competing (not yet).
As i understant it, print.google.com is based on selected publishers and authors (~6.300 pages [google.com] in the current beta?) whereas Amazon's book search is based on more than 30 Mio. pages.
And Amazon is listed as merchant on every excerpt page at print.google.com. I don't think they'll have a problem with it (not yet).
Unless it's going to markedly change over time best bet might be to include it as a feature, such as Froogle, or another tab (they still have a bit of room).