Today, Google made it official that it will bid in the 700 MHz spectrum auction and there’s a flurry of media and excitement around it — most of it premature. How much will Google bid? Will it partner to do it? Will it win? And what will it do if it does win? At least the other shoe has dropped on Verizon Wireless’s open access announcements earlier this week. CEO Eric Schmidt has defended the hedge by noting that it will mean open access regardless of who wins due to FCC requirements.

Even if Google does win, we shouldn’t necessarily expect for it to be a branded carrier. Remember that one of the conditions it wanted from the FCC was mandatory wholesaling. So.. much as with Android, there may not be a “Google Wireless” but lots of different MVNOs using Google’s spectrum as infrastructure.