Google Android source code now available
This isn't a surprise. Google has long stated that it would make the source code for the operating system available, but now that it is, developers can do far more than create applications that will run on Android. They can help improve the operating system overall by submitting potential new features, bug fixes, or other ideas.
The software license also allows developers to port Android to run on additional devices (Perhaps your old Palm TX? Maybe an Eee PC?), or to develop custom versions of the operating system. Don't like the version of Android that ships with the T-Mobile G1? Maybe Verizon or Spring will have a phone that runs a completely different operating system built on the same source code.
You can check out a video introducing the open source project after the break.