This does not automatically sync your desktop file changes like Time Capsule or DropBox would, but it is the fabled GDrive. It would be so nice if this flie space worked with Google Sites.
Instead of emailing files to yourself, which is particularly difficult with large files, you can upload to Google Docs any file up to 250 MB. You’ll have 1 GB of free storage for files you don’t convert into one of the Google Docs formats (i.e. Google documents, spreadsheets, and presentations), and if you need more space, you can buy additional storage for $0.25 per GB per year.