Google as always came up with a new API called Google Font API this time. it is a start up for web fonts and the API is totally open source so, anyone can even download the fonts and alter them as they wish yet that API supports a few fonts because the API was introduced a little while ago so, hopefully it will expand and make something good for the world wide web. here is the Google font directory where you can find all the fonts. here in this document google has documented very clearly for beginners to how to use their new API.
These fonts works really well with HTML 5 and CSS 3 so, that will be great when it comes to the future of world wide web because it supports the rotations, shadows etc. in HTML 5.
The other big news is Smashing magazine is already relaunched their site with Google's newly launched web font API. so, the trend will be this let's hope for a bright future for world wide web.
cheers,
Kesh.