http://phandroid.com/2011/05/12/google-io-2011-wrap-up-what-was-your-favorite-announcement-or-moment/
Here's a good post on what happened during Google I/O 2011 (I/O stands for Input Output in computing language btw).
Here are some highlights which I feel are significant (to me anyway).
1) Android Honeycomb 3.1 update released.
2) Android Ice Cream Sandwich coming out in Q4 2011 and will integrate both tablet and phone form factors for Android
3) Google Music Beta launched (but only in US)
4) Google together with some carriers and phone manufacturers promise 18 months of updates for each phone
5) Chromebook, a netbook which is fully web based, that is, the operating system is the chrome browser will be launched in mid June.
Google I/O 2010 gave all its attendees a Nexus One (I think). This year they gave everyone a Samsung Galaxy Tab 10.1. Both were new products which have not even been launched. If you think about it, though Google I/O's ticket cost like really expensive (more than a few hundred bucks I think), the free gift makes up for it. Really hope I can go there too. Too bad I'm not a developer. I think next year they will probably give the Google TV.
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