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A year ago I was telling people outside the industry that I had doubts about Google's stock price and that investors apparently didn't know how unhappy the paying customers (advertisers) were with Google.
Now, however, Google seems to have really cleaned up its act, at least from my perspective. I'm not mad at them all the time anymore. Of course, my perspecitive is my own, and I don't know what the advertising community as a whole is thinking. (Webmasterworld threads are not a good representative of overall advertising sentiment, either.) Not that I would risk buying Google stock (PE ratio is too high for my taste), but at least they don't seem like a bad company anymore.