No. Seriously.
Google's buying Meetro, but not for IM. It's more like Orkut, based on community concepts. Although Google has Hello, it's not gonna be an ideal IM protocol/client. Hello is for sharing photos, not chatting.

If Google is really gonna do IM, they should write a Jabber client (or buy one).
Transports are terrific, Jabber/XMPP is XML-based and is superior because the protocol itself is extendable.