Google launching open source browser based on WebKit?

No idea whether this theory holds any water, but given the recent speculation hitting...everywhere, I checked http://code.google.com/p/chrome/ and found a login screen (quickly followed by a permission denied error), rather than a Not Found error for a project that doesn't exist.

Wondering what this will bring to WebKit that Safari doesn't (aside from Gears and even-more-targeted advertising), but I guess we'll see soon enough.