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Sad that I care though.
After noticing that lookingatit pointed out that it is the blue g before the L in Google, it makes more sense but I still don't like.
[edited by: Demaestro at 5:14 pm (utc) on May 30, 2008]
Isn't the favicon just stored in cache, so depending on your settings it may look for a new one each time...
When I make or change my own favicon.ico's I have to flush the cache and close the browser (sometimes I have to wait until next time I turn on my computer to view the changes or the new favicon.)
I noticed G's new fav' -- I like it :)
When Google first went online, I thought their original favicon was lame. Time and repetition numbed that feeling for me, and the same will probably be true for this new favicon.
I sometimes wonder about the "branding" minds behind various changes. I never understood changing GoTo.com to Overture.com, for instance. They idea was supposed to be extending the brand beyond PPC marketing or some such.
Well, I'm sure there's some thinking behind this branding change - going from uppercase to lowercase shows Google as less domineering and friendlier, maybe?